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US stocks indexes rebound after Tuesday’s big drop
US Stocks closed on a higher note on Wall Street Tuesday, recovering from a sharp drop in the market the day before.
The rebound ended the 5-day losing streak of the Dow Jones Industrial Average which was impacted by investor concerns of the new China virus that could severely impact global economic growth.
“There are always a few bargain hunters out there who will step in and start buying almost immediately,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab. “But I’m quite surprised that it’s been this quickly and that it has rebounded as much as it has.”
The S&P 500 index jumped up 1% (36.61 points) to 3,276.24. The Dow rose by 0.7% (187.05 points) to 28,722.85. The Nasdaq climbed by 1.4%, (130.37 points), closing at 9,269.68. Meanwhile, the Russell 2000 index of smaller company stocks went up by 0.9% (14.18 points) to 1,658.31.
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
Apple, Google, Amazon, and Facebook’s chief executive officers faced Republican and Democratic U.S. lawmakers on Wednesday for the much-anticipated congressional hearing. The CEOs were questioned for alleged abuse of their market power ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
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