New York, NY, United States (AHN) – U.S. stocks opened sharply higher Wednesday, following an ugly day of trading Tuesday that caused all three major indexes to post their worst losses of the year.
Just after the opening bell on Wall Street, the Dow Jones Industrial Average jumped 70 points, the Standard & Poor’s 500 added 8 points and the NASDAQ gained 27 points.
The Dow and the S&P 500 were coming off five consecutive declining sessions, triggered by a weak jobs report and continued worries over the health of the European economy.
Investors were buoyed Wednesday morning from declining yields on Spanish and Italian bonds, and a surprising quarterly profit from bellwether Alcoa. All eyes will be on internet giant Google, which reports after the close.
In world markets, Asia ended mixed. European markets, meanwhile, were higher in afternoon trading.
In currencies and commodities, the dollar fell against the euro and the British pound, but gained against the Japanese yen.
Oil for May delivery added 44 cents to $ 101.46 a barrel, and gold futures for April delivery dropped 30 cents to $ 1,659.20 a troy ounce.
Category: Market And Exchange
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