US stocks rebound on economic reports
Purchase this article for republication
Buy SPH photosNEW YORK (AFP) - US stocks jumped Tuesday, recovering much of Monday's losses and picking up momentum from solid economic indicators.
The Dow Jones Industrial Average finished 99.22 points higher (0.71 per cent) at 13,979.30.
The S&P 500 index climbed 15.58 (1.04 per cent) to 1,511.29, while the tech-rich Nasdaq Composite Index rose 40.41 (1.29 per cent) to 3,171.58.
In a mid-afternoon market update, Charles Schwab & Co attributed Tuesday's "solidly higher" returns to economic reports showing US services sector activity rising and the contraction in eurozone business activity decelerating.
