US stocks rebound as Ukraine fears ease; Dow up 1.1%
Published on Aug 19, 2014 4:59 AM
NEW YORK (AFP) - US stocks rebounded Monday from last week’s Ukraine-linked setback as fears of a clash with Russia ebbed, with the Dow surging 1.1 per cent and Nasdaq reaching a 14-year high.
Markets also got a spark from a brewing bidding war over the discount retail sector by the three “Dollar” chains.
The Dow Jones Industrial Average finished up 175.83 points (1.06 per cent) at 16,838.74.
The broad-based S&P 500 added 16.68 (0.85 per cent) at 1,971.74, while the tech-rich Nasdaq Composite gained 43.39 (0.97 per cent) to 4,508.31.
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