Arab Today, arab today us stocks rebound after losses
Last Updated : GMT 19:29:22
Arab Today, arab today
Arab Today, arab today

US stocks rebound after losses

Arab Today, arab today

Arab Today, arab today US stocks rebound after losses

New York - Arabstoday

US and European equities rebounded on Wednesday after a string of heavy losses that had been stoked by fears over a weakening global economy, but worries about the economy continued to dog oil prices, which fell for a third straight day. Investors scaled back on holdings of safe-haven of gold and US and German government debt as they tiptoed back into riskier investments. Record low auction yields for Germany\'s new 10-year bond compounded the sell-off in Treasuries and Bunds. The ultra-low yields soured demand for the euro zone benchmark despite fears that Spain or another heavily indebted euro zone nation might need a bailout. But the euro managed to strengthen against the dollar after a member of the European Central Bank\'s Executive Board said the bank\'s bond-buying program remains an option as the euro zone continues to struggle to contain its debt crisis. \"The market action today tells you how sensitive investors are to yield levels and positive comments from the ECB, even though the central bank\'s comments were somewhat vague,\" said Steven Englander, head of G10 strategy at CitiFX, a division of Citigroup. \"At the end of the day it seems clear that policymakers are very interested in keeping the asset market rally going and will do what is needed.\" In equity markets, Wall Street stocks bounced back after five days of sharp losses. In late morning trading, the Dow Jones Industrial Average was up 90.48 points, or 0.71 percent, at 12,806.41. The Standard & Poor\'s 500 Index was up 11.98 points, or 0.88 percent, at 1,370.57. The Nasdaq Composite Index was up 33.96 points, or 1.14 percent, at 3,025.18. The S&P had marked its largest daily percentage decline in four months on Tuesday. It ended below its 50-day moving average for the first time since December, a level that provided technical resistance in Wednesday\'s rebound. \"I see it as normal for the market to take a break after its best first quarter since 1998. If that\'s the only blip we see, it was pretty shallow,\" said Bruce Zaro, chief technical strategist at Delta Global Asset Management in Boston. Shares of aluminum producer Alcoa Inc. rose 7 percent to $9.968, a day after the Dow component surprised Wall Street by reporting a first-quarter profit. \"I don\'t think Alcoa earnings are going to set the tone and turn this around, but earnings expectations have been raised a bit, analysts had gotten a bit too pessimistic,\" Zaro said. US-traded shares of Nokia tumbled 14 percent after the mobile phone maker warned its phone business would post losses in the first two quarters this year, as it struggles to revamp its product line. Year-to-date, the S&P is up 9.1 percent, the Dow is up 4.98 percent and the Nasdaq is up 16.2 percent. The FTSEurofirst 300 index of top European shares unofficially closed 0.6 percent higher at 1,032.54 points, after losing 5.4 percent in four sessions. Shares in euro zone banks led the rebound, with Intesa SanPaolo up 5.5 percent and Commerzbank up 3.8 percent. The banking sector index had tumbled 21 percent in three weeks, hammered by the return of fears over the region\'s sovereign debt crisis. \"It\'s just a short-term technical bounce after a brutal drop. The fact is that everything has been broken on charts: Trendlines, channels, 200-day moving averages,\" said David Thebault, head of quantitative sales trading at Global Equities in Paris. The recovery in US and European shares boosted the MSCI global stock index, snapping a six-session losing streak. It was up 0.55 percent, after Tuesday\'s 1.5 percent decline. In Tokyo, the Nikkei fell 0.8 percent to its lowest level since mid-February, following Tuesday\'s sell-off on Wall Street and in Europe. Benchmark 10-year Treasury notes last traded down 12/32 in price with a yield of 2.03 percent. The 10-year note yield on Tuesday fell below the key chart level of 2.00 percent for first time in about four weeks. German Bund futures were down 66 basis points at 139.67, reversing half of Tuesday\'s gains. In the currency market, the euro rose 0.3 percent versus the dollar to $1.3120 after touching a near one-month low of $1.3033 on Monday. Against the yen, it was up 0.7 percent at 106.28 yen after earlier touching 105.42, the lowest level in almost seven weeks. The dollar also weakened against other major currencies. The dollar index shed 0.24 percent at 79.704, rebounding from an earlier low of 79.508. In oil trading, Brent crude slipped below $120 a barrel, pressured by rising U.S. inventories as well as concern about the strength of global demand. Brent futures for May delivery were last down 23 cents at $119.65 a barrel after touching a near two-month low of $119.05 earlier. US oil futures were up $1.15 at $102.19. Spot gold fell for first time in five sessions. It was last down 0.11 percent at $1,658.50 an ounce.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us stocks rebound after losses Arab Today, arab today us stocks rebound after losses

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us stocks rebound after losses Arab Today, arab today us stocks rebound after losses

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Taxi! Transport gets an overhaul

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Turkey warns of 'security' steps

GMT 12:17 2017 Sunday ,24 September

Turkey warns of 'security' steps
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday