NEW YORK: U.S. stocks rebounded on Thursday from sharp losses in the prior session in a broad rally as earnings season got off to a strong start and fears eased around hedge funds selling long positions to cover shorts.
"You come into today and so many companies have beat estimates and yeah, maybe some of them are a little weak, because they were strong going in," said Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management in Chicago. The Dow Jones Industrial Average rose 489.17 points, or 1.61per cent, to 30,792.34, the S&P 500 gained 66.88 points, or 1.78per cent, to 3,817.65 and the Nasdaq Composite added 193.25 points, or 1.46per cent, to 13,463.85.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall St. opens lower with earnings underway, eyes on FedU.S. stock indexes opened lower on Wednesday as investors parsed through earnings reports from companies including Boeing and Microsoft, ahead of ...
Read more »
Asia stocks follow Wall St tumble on valuation worriesAsian stocks skidded on Thursday following a sharp Wall Street decline amid deepening concerns about stretched valuations in equities markets, ...
Read more »