Stock market rebounds as index rises by 0.2 per cent

Wall Street rebounds; Dow Jones up 100 points as trade war worries ebb

Wall Street rebounds; Dow Jones up 100 points as trade war worries ebb

Futures for the Nasdaq 100 index surged 51.25 points to 6,512.00.

"What you are seeing in the market is an alleviation of trade war fears and people trying to get back in and reposition themselves for what they hope - no trade war", said Robert Pavlik, chief investment strategist and senior portfolio manager at SlateStone Wealth LLC in NY.

Only utilities and real estate, which are sensitive to interest rates, posted losses after US producer prices rose more than expected in March, indicating that inflation is strengthening, which could push interest rates up further. JPMorgan Chase added 2.4 percent.

Analysts expect quarterly profits for S&P 500 companies to rise 18.5 percent from a year ago, which would be the biggest gain in seven years, according to Thomson Reuters I/B/E/S.

Oil prices traded higher as Brent crude futures rose 0.51 percent to trade at $67.45 per barrel, while US WTI crude futures rose 0.26 percent to trade at $62.22 a barrel.

The S&P 500 index showed six new 52-week highs and one new lows, while the Nasdaq recorded 36 new highs and 22 new lows.

The continuing price gains further contributed to the market capitalisation reaching an all-time high of $2.06 billion during the period under review, however, concluded the month at $2.05 billion.

The STOXX Europe index of companies in 17 European countries fell 0.35 per cent, with the trade-exposed auto sector the leading sectoral loser, down 1.7 per cent.


The rising tensions sent oil prices surging, boosting energy stocks.SPNY 1 percent.

The Dow Jones industrial average increased 345 points, or 1.4 percent, to 24,279.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.81 percent. Intel jumped 2.9 percent and chipmaker Micron Technology rose 3.8 percent.

Verifone Systems shares rose 52 percent after the company agreed to be taken private for $2.28 billion.

Shares of Leucadia National climbed 7.5 percent after the company said it would sell most of its non-financial assets to focus on investment banking and capital market businesses. Intel rose 1.7 percent and Citigroup climbed 1.3 percent.

Excluding food and energy prices, core consumer price index rose by 0.2% March, matching the increase seen in the previous month.

The S&P 500 was up 13.8 points, or 0.53 percent, at 2,618.27 and the Nasdaq Composite was up 67.97 points, or 0.98 percent, at 6,983.08.

The Dow Jones industrial average added 46.34 points, or 0.2 percent, to 23,979.10.

Recommended News

  • MISSING: Mayor offers sympathy to Cameroon team

    MISSING: Mayor offers sympathy to Cameroon team

    Dutton said if any of the missing athletes claimed protection status, Border Force would test each case. The Australian government has warned athletes against overstaying their visas.
    Ocean's 8 Trailer #2: Sandra Bullock Has a Score to Settle

    Ocean's 8 Trailer #2: Sandra Bullock Has a Score to Settle

    The trailer reminds the viewers that 'Having this much fun is a crime .' But that's not stopping anyone. Anne Hathaway stars as Daphne, the actress whose necklace they conspire to pocket during a major gala.
    Seahawks Canceled Colin Kaepernick Visit When QB Refused to End Protest

    Seahawks Canceled Colin Kaepernick Visit When QB Refused to End Protest

    After sitting out the entire 2017 season, Kaepernick held a throwing workout on a practice field in Houston last month. Incredibly, there are still those who don't believe that he's being blackballed because of his protest, citing stats.
  • President Erdogan, Trump discuss Syria in phone call

    President Erdogan, Trump discuss Syria in phone call

    Erdogan said Turkey had would maintain its presence and activities in Syria until the country became safe for everyone. On January 20, Turkey, together with the Free Syrian Army opposition forces, launched Operation Olive Branch in Afrin.
    John Krasinski to produce new movie, 'Life on Mars'

    John Krasinski to produce new movie, 'Life on Mars'

    It hasn't been an overnight journey and Krasinski made it the old-fashioned way, taking small steps and learning as he went. There is no scribe attached as yet and Krasinski, at this stage, is not expected to star.
    Could Marijuana be Legalized in NY ?

    Could Marijuana be Legalized in NY ?

    Not so long ago, Cory Doctorow noted at Boing Boing , Boehner said he was "unalterably opposed to the legalization of marijuana". Whether in the field of medicine or the realm of business, local leaders have begun discussing the impact of legalized marijuana.
  • 49ers release statement on charges filed against Reuben Foster

    49ers release statement on charges filed against Reuben Foster

    On Feb. 11, police responded to disturbance call at the residence where they spoke to the alleged victim. Reuben Foster has played one season in the National Football League and his career may already be over.
    'Avengers: Infinity War' cast talks about their Marvel

    'Avengers: Infinity War' cast talks about their Marvel "family"

    Doctor Strange and Star-Lord, it seems, get around. "Thanos is the one thing that unifies them all in this movie", Anthony added. They share laughs and joke around on the set. "It may take you a beat or two, but you'll certainly recognize him", he said.
    Facebook CEO Zuckerberg says his personal data sold to others

    Facebook CEO Zuckerberg says his personal data sold to others

    She said that "robust penalties" for breaches like Cambridge Analytica's could be put in place, even for "first-time violations". Jan Schakowsky, D-Ill., asked if Facebook would extend the European Union rules to the United States.
  • Scientists have warned about the dangers of hand dryers

    Scientists have warned about the dangers of hand dryers

    Study authors said Clostridium difficile, a serious illness that causes diarrhea, also could be spread through the hand dryers. However, when the team retrofitted some of their dryers with HEPA filters, they only blocked about 75 percent of bacteria.
    Trudeau to sit down with BC, Alberta premiers over Trans Mountain impasse

    Trudeau to sit down with BC, Alberta premiers over Trans Mountain impasse

    Donovan Cavers dared federal Finance Minister Bill Morneau to cancel equalization payments to B.C. Kinder Morgan has given the government until May 31 to get the project back on track.
    ESPN launches new sport streaming service - ESPN+

    ESPN launches new sport streaming service - ESPN+

    ESPN + is owned by Disney Direct-to-Consumer and global , a division of The Walt Disney Company. It also presages a more significant streaming service from ESPN's parent company, Disney .

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.