U.S. Stocks Rebound After Selloff as Technology Shares AdvanceBy
U.S. shares inched forward for the first time in four days as a rally in technology stocks offset losses in phone companies and banks.
The S&P 500 added 0.2 percent to 2,348 at 4 p.m. in New York and the Dow Jones Industrial Average lost 7 points to 20,661.30. The S&P 500 sank more than 1 percent Tuesday for the first time since Oct. 11.
- Telecom shares fell 1% for a third straight loss this week; Frontier Communications dropped 10.6% and CenturyLink fell 2.4%
- Financial companies weaker for sixth time in seven sessions; lost 0.2%
- 10-year Treasury yield down 4 basis points, extending a four-day bond rally
- North Sea Brent crude oil fell after industry data showed U.S. stockpiles expanded last week
- Stocks in Europe and Asia declined on an unwinding of reflation trades amid uncertainty over prospects for the U.S. president’s policies
- Volume across U.S. exchanges fell 18% from yesterday
- VIX up for fourth session to 12.8
- Thursday: Adeptus Health (ADPT), Micron (MU), GameStop (GME)
- Stoxx Europe 600 Index declined 0.4% for third straight loss as 17 of 19 groups in the index fell
- Terror attack in London hours before European market close left four dead near Parliament
For more equity market news:
- Health-Care Providers in Trader Sights Before Obamacare Vote
- Fed Looks Past Trump Stocks Rally, Sees Same Old Tired Expansion
- Valuation Agitation Evident in U.S. Stock Investor Survey: Chart
- S&P 500 to Dip 6%-8%, Then Hit 2600; UST 10Y Bull Trend Over: BNP
- Gartman Goes Short on Stocks for First Time in ‘Very Long While’
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