[NEW YORK] US stocks rebounded on Friday as an ebbing bond rally and news of potential German economic stimulus brought buyers back to the equities market, closing the book on a tumultuous week. Read more at The Business Times.
[NEW YORK] US stocks rebounded on Friday as an ebbing bond rally and news of potential German economic stimulus brought buyers back to the equities market, closing the book on a tumultuous week.
"The market is looking for some positive news to take into the weekend," said Mark Kepner, equity trader at Themis Trading in Chatham, New Jersey.David Carter, chief investment officer at Lenox Wealth Advisors in New York, agreed, but added that underlying anxieties remain." great headline but further analysis may eventually create uncertainty and weaken markets," Mr Carter said.
The Dow Jones Industrial Average rose 306.62 points, or 1.2 per cent, to 25,886.01, the S&P 500 gained 41.09 points, or 1.44 per cent, to 2,888.69 and the Nasdaq Composite added 129.38 points, or 1.67 per cent, to 7,895.99. Deere & Co cut its earnings forecast after missing Street profit estimates in the face of the ongoing US-China trade war. Still, the farm equipment maker's decision to cut costs sent the stock up 3.8 per cent.
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