CNBC’s Mary Thompson: A dramatic turnaround on Wall Street that is the Dow rebounced from more than 230-point decline to finish higher. The Dow closed up 35-points at 12,145, the S&P was of 6-point and the Nasdaq finished almost 20-point higher.
 
Stocks did get off to a rough start wade down by an unexpected decline in February’s retail sales and shaken by reports the bond fund Carlyle Capital could make good on it’s debts. Stocks rallied after a lows though after Standard & Poor’s (S&P) reports at the end of the big subprime related writedowns for banks is near.
 
Today’s rally came and met the backdrop of further weakness in the dollar. It fell to its lowest levels in more than 12 years against the Japanese Yen. The weakness in the US currency pushed gold and oil to new intra-day highs with gold breaching USD 1000/oz announced and oil hitting USD 110/bbl. So both commodities finished off their best levels of the day. 
 
Wall Street Action

• Wall St turnaround; Dow rebounds from 230 pts decline to finish higher
• Dow closes up 35 pts at 12,145, S&P 500 gains 6 and Nasdaq ends 20 pts up
• Feb retail sales down 0.6%
• US mkts gain on S&P report that an end could be in sight for bank writedowns
• Dollar falls sharply against Japanese yen
• Gold hits record $ 1000/oz
• Crude breaches $ 110/bbl level