At 1:30 EST the market is up 417 points….
U.S. stocks advanced as Treasury yields erased most of their climb, with financial markets looking to stabilize after the worst week in two years for American equities.
The Cboe Volatility Index edged lower, but traders were still on edge following the tumultuous move in equities last week that wiped $2 trillion from U.S. stocks. Investors are awaiting U.S. consumer-price data due Wednesday with some trepidation, given that pressure on equities has been emanating from the Treasury market and the outlook for inflation. The S&P 500 is down 0.7 percent this year after rising as much as 7.5 percent through Jan. 26….