Economics
U.S. Stocks Survive Barrages as Selloff Low Becomes Rally Point
- S&P 500 recovers twice in week after approaching August Low
- Beaten down biotechnology, commodity shares bounce back
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While everything from Glencore Plc to the Labor Department threw punches at U.S. stocks this week, nothing landed the knockout blow.
The Standard & Poor’s 500 Index ended the week with a gain of 1 percent, rebounding from a loss of more than 2.5 percent on Monday after Glencore roiled global markets and a 1.6 percent retreat on Friday following a monthly U.S. employment report. Industries from biotechnology to raw materials bounced back after reaching lows for the year.