The Dow Jones Industrial Average rose 2.13 per cent, the S&P 500 gained 1.34 per cent, and the Nasdaq Composite added 0.94 per cent, reversing early losses on declines in Amazon as Apple rose. — Reuters pic
Europe's broad FTSEurofirst 300 index closed down 0.79 per cent and initially weighed on MSCI's world equity index after a decline overnight in Asian equities. The global benchmark index, which tracks shares in 49 nations, rose 0.53 per cent to 543.54, driven by a rebounding Wall Street. “Every once in a while cyclicals will outperform. These are the most beaten-up securities in the market. But they're not the safe trade, which is tech-plus. That's where the growth is,” Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.
The euro rose 0.44 per cent to US$1.1390. The US dollar index, which measures the safe-haven greenback against a basket of six rival currencies, slid 0.32 per cent to 96.242.