-Wall Street stocks swung wildly on Thursday, erasing steep early losses

-Grim new inflation data sent stock indexes plunging at the opening bell

-But stocks reversed and headed toward one of the best sessions of the year

-Many experts were baffled by the rally, and warned it could be temporary 

-Third-quarter earnings season kicks off Friday with the major banks reporting 

Wall Street stocks swung wildly on Thursday, erasing steep early losses caused by grim inflation figures in the latest set of rollercoaster moves to rock financial markets.

The Dow Jones Industrial average ended the day up 827.87 points, or 2.8 percent, after earlier plunging more than 500 points, marking Wall Street's biggest one-day reversal in years.