Dow roars back from 500-point decline as stocks close higher

Stocks closed higher Monday as major indexes bounced back from earlier losses as renewed confidence in the strength of the U.S. economy offset lingering worries over the U.S.-China trade dispute.

How did the benchmarks fare?

The Dow Jones Industrial Average DJIA, +0.14% rose 34.31 points, or 0.1%, to end at 24,423.26, while the S&P 500 SPX, +0.18% gained 4.64 points, or 0.2%, to 2,637.72. The Nasdaq Composite Index COMP, +0.74% advanced 51.27 points, or 0.7%, to close at 7,020.52.

At session lows, the Dow had lost more than 500 points, while the S&P had shed 50 points and the Nasdaq had been down 81 points. The S&P 500 closed 1.9% above its intraday low, its biggest such bounce since Feb. 6; the Dow closed 2.1% above its session low for its biggest intraday, upside reversal since April 4, according to Dow Jones Market Data.

What drove the market?

Concerns over global growth as well as trade woes overshadowed the market in early going after latest data showing a sharp slowdown in Chinese export growth reinforced fears that the best of the current bull market is behind us.

However, the belief that the U.S. economy, at least, could continue to grow at a healthy pace into next year and beyond neutralized some of the worst jitters, in part due to comments from influential banks such as J.P. Morgan and Goldman Sachs that fears about U.S. economic growth are overblown.

Their views are supported by several indicators, including the ISM survey which shows resilient demand. The Labor Department also said U.S. job openings rose to 7.08 million in October, from 6.96 million a month earlier.

But trade worries have also been getting in the way of traditional end-of-year gains. China’s Vice Foreign Minister Le Yucheng summoned the U.S. ambassador on Sunday

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Stocks – Dow Rebounds as Rampant Tech Lifts Sentiment

© Reuters.

Investing.com – The Dow clawed back losses to close higher Monday as Apple rebounded to lead tech higher.

The rose 0.14% to 24,423, from a session low of 23,881. The added 0.18%, while the climbed 0.74%.

Apple (NASDAQ:) swung from session lows after it filed an appeal to overturn a decision banning the sale of its iPhones in China.

A Chinese court had granted Qualcomm (NASDAQ:) an injunction against Apple banning the iPhone maker from . The ban, which is not expected apply to Apple’s latest slate of iPhones appeared to provide some respite for investors.

“A ban on importing old 6S does little to limit the domestic circulation of refurbished iPhones (in China),” Lynx Equity Strategies said in a note. “The bulk of Apple sales in China are typically the new models.”

Among other FANG stocks, Facebook (NASDAQ:) rose more than 3% and Netflix (NASDAQ:) gained 2%. Alphabet (NASDAQ:) closed 0.6% higher.

But financials limited gains in the broader market as bank stocks continued to fall on concerns about exposure to a potential fallout from Brexit after UK Prime Minister called off a key vote on the Brexit deal slated for Tuesday.

Banks were also weighed down by expectations the Federal Reserve may rein in the pace of monetary policy tightening amid concerns about global growth.

Bank of America (NYSE:), Citigroup (NYSE:) and JPMorgan (NYSE:) fell about 2% as low interest rates tend to limit interest income generated by banks.

Energy, meanwhile, ended deeply in the red on the back of falling oil prices as doubts grew over whether OPEC and its allies recent pact to cut production would stave off a supply glut.

On the economic front, job openings rose to a near record high, but missed economists’ forecasts.

The U.S. Labor Department’s latest (JOLTs)

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Markets Right Now: US stocks end a bumpy day slightly higher

The latest on developments in financial markets (all times local):

4 p.m.

Stocks ended another bumpy day slightly higher as gains by big technology companies helped the market erase an early plunge.

Facebook added 3.2 percent and Microsoft rose 2.6 percent Monday.

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#ReadLocal

Chipmaker Qualcomm rose 2.2 percent after a Chinese court banned some Apple phones as part of a long-running dispute over patents.

Energy companies fell as the price of crude oil dropped 3 percent, to give up its gains from last week. Exxon Mobil lost 1.4 percent.

The S&P 500 rose 4 points, or 0.2 percent, to 2,637.

The Dow Jones Industrial Average rose 34 points, or 0.1 percent, to 24,423. At one point it was down 507.

The Nasdaq rose 51 points, or 0.7 percent, to 7,020.

Bond prices fell. The yield on the 10-year Treasury rose to 2.86 percent.

___

11:45 a.m.

Stocks gave up an early gain and turned broadly lower, pushing the market deeper into the red for the year.

Banks, health care stocks and energy companies fell more than the rest of the market Monday.

Bank of America sank 3.7 percent and Exxon Mobil lost 3 percent.

Nutrisystem soared 29 percent after Tivity Health agreed to buy the company.

The S&P 500 fell 27 points, or 1.1 percent, to 2,604. The index is coming off its worst week since March.

The Dow Jones Industrial Average dropped 352 points, or 1.4 percent, to 24,030. At one point the Dow was off as much as 507 points.

The Nasdaq composite fell 27 points, or 0.4 percent, to 6,942.

Bond prices rose. The yield on the 10-year Treasury

Read More Here...

US stocks end a bumpy day slightly higher

The latest on developments in financial markets (all times local):

4 p.m.

Stocks ended another bumpy day slightly higher as gains by big technology companies helped the market erase an early plunge.

Facebook added 3.2 percent and Microsoft rose 2.6 percent Monday.

Digital Access for only $0.99

For the most comprehensive local coverage, subscribe today.

#ReadLocal

Chipmaker Qualcomm rose 2.2 percent after a Chinese court banned some Apple phones as part of a long-running dispute over patents.

Energy companies fell as the price of crude oil dropped 3 percent, to give up its gains from last week. Exxon Mobil lost 1.4 percent.

The S&P 500 rose 4 points, or 0.2 percent, to 2,637.

The Dow Jones Industrial Average rose 34 points, or 0.1 percent, to 24,423. At one point it was down 507.

The Nasdaq rose 51 points, or 0.7 percent, to 7,020.

Bond prices fell. The yield on the 10-year Treasury rose to 2.86 percent.

___

11:45 a.m.

Stocks gave up an early gain and turned broadly lower, pushing the market deeper into the red for the year.

Banks, health care stocks and energy companies fell more than the rest of the market Monday.

Bank of America sank 3.7 percent and Exxon Mobil lost 3 percent.

Nutrisystem soared 29 percent after Tivity Health agreed to buy the company.

The S&P 500 fell 27 points, or 1.1 percent, to 2,604. The index is coming off its worst week since March.

The Dow Jones Industrial Average dropped 352 points, or 1.4 percent, to 24,030. At one point the Dow was off as much as 507 points.

The Nasdaq composite fell 27 points, or 0.4 percent, to 6,942.

Bond prices rose. The yield on the 10-year Treasury

Read More Here...

Dow erases 500-point decline as stocks rebound to end higher

U.S. stocks staged a late-day comeback Monday to push equity benchmarks into positive territory, as semiconductor shares drove the tech-heavy Nasdaq higher. The S&P 500 SPX, +0.18% rose by 0.2% to end around 2,637, based on preliminary numbers. The Dow Jones Industrial Average DJIA, +0.14% advanced 33 points, or 0.1%, to around 24,422. The Nasdaq Composite COMP, +0.74% rose 0.7% to around 7,021. But equities have struggled to notch a streak of positive sessions as softening global growth and simmering U.S.-China trade tensions have weighed on investor sentiment, even as economic data remains robust. In company news, Qualcomm shares QCOM, +2.23% rose after a Chinese court ordered Apple Inc. AAPL, +0.66% to stop selling older iPhone models in China for infringing two patents held by the chip manufacturer. Still, Apple shares ended slightly higher.

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Stocks mount late-day reversal, erasing Dow's 500 point decline

U.S. stocks staged a late-day comeback Monday to push equity benchmarks into positive territory, as semiconductor shares drove the tech-heavy Nasdaq higher. The S&P 500 SPX, +0.18% rose by 0.2% to end around 2,637, based on preliminary numbers. The Dow Jones Industrial Average DJIA, +0.14% advanced 33 points, or 0.1%, to around 24,422. The Nasdaq Composite COMP, +0.74% rose 0.7% to around 7,021. But equities have struggled to notch a streak of positive sessions as softening global growth and simmering U.S.-China trade tensions have weighed on investor sentiment, even as economic data remains robust. In company news, Qualcomm shares QCOM, +2.23% rose after a Chinese court ordered Apple Inc. AAPL, +0.66% to stop selling older iPhone models in China for infringing two patents held by the chip manufacturer. Still, Apple shares ended slightly higher.

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Dow recovers after 500-point fall on Brexit uncertainty, intensified fears on trade

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Dec. 10, 2018 / 4:13 PM GMT / Updated 8:01 PM GMT

By Lucy Bayly

Wall Street settled quietly after another rough morning on Monday that saw the Dow Jones Industrial Average cross into correction territory and lose more than 500 points before paring losses as the tech sector trended upward.

Earlier in the day, the S&P 500 index had fallen 1.5 percent as banks digested British Prime Minister Theresa May’s shock announcement that she would postpone a crucial vote on her deal for Britain to trade separately from the European Union. While U.S. banks have priced in a certain amount of volatility around the subject, U.K.-based banks are still assessing the hit to their basic operations if Britain were to split from its biggest trading partner.

The British pound took a hammering, plunging to its lowest level since April 2017 to trade at 1.26 to the U.S. dollar, down 1.5 percent to the euro.

Apple, which had lost all its gains for the year, was able to overturn its losses for the day to edge out of the red. Investor confidence in the iPhone maker had retreated after a Chinese court granted an injunction to parts maker Qualcomm that could essentially prevent Apple from selling iPhones in China. The tech giant saw 2 percent lopped off its share price before the day was even halfway through, only to regain value after the Cupertino-based company filed an appeal to overturn the Chinese ban.

Monday’s whiplash came on the heels of a wild week that saw the Dow lose over 1,500 points over three trading sessions and put the blue-chip index on pace for its worst

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Trump 'Glued' to Stock Market Moves and Worried

President Donald Trump reportedly has been “glued” to the recent volatile stock-market movements, worried that his actions are fueling the plunge.

Trump has been asking his advisers if they think the tariffs he’s levied against China are causing the market’s unrest over the past two months, The Wall Street Journal said. Trump remains convinced that the volatility isn’t his own doing, but rather, the product of the Federal Reserve’s plan to raise the benchmark interest rate, the Journal said.

The president still sees the Dow Jones Industrial Average as a significant benchmark for his performance, WSJ.com said, citing sources close to Trump. The blue chip index is up about 23 percent since Trump’s inauguration but turned negative for the year during another rough market session Friday.

While at the White House, he will often keep the TV tuned to business channels and watch the Dow’s minute-to-minute movements, people close to the White House told the Journal.

Asked about Trump’s attention to the stock market, one person close to the White House told the Journal: “He’s glued to it.”

Meanwhile,  since his election, Trump has tweeted about the stock market more than 35 times. Yet since Nov. 12, his social media account has been mum on the wild vacillations in U.S. equities, Bloomberg reported.

Continued bluster on U.S.-China trade, a flattening yield curve and predictions for a 2019 earnings slowdown have helped send the S&P 500 Index down more than 3 percent since he last weighed in. It swung at least 1 percent one way or the other on eight days in that span, and is now negative for the year.

Meanwhiile, U.S. equity futures fell about 0.4 percent to six-week lows on Monday, as a global selloff continued on signs of cooling growth and worries that escalating tensions between the United

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Dow reverses 500-point drop in volatile trading day

Last Updated Dec 10, 2018 3:19 PM EST

U.S. stocks fell Monday morning after a sharp drop last week, with battered banks, health care stocks and energy companies dragging down the major stock indexes deeper into negative territory for the year. But shares rallied in the afternoon, led by bouncebacks in tech stocks like Facebook and Microsoft, with the Dow reversing a near-500-point plunge by 3:00 p.m. ET.

The benchmark S&P 500 remained on track for its fourth loss in a row, down 0.5 percent as of 1:00 p.m. Eastern time. The Dow Jones industrial average was down 0.7 percent to 24,210 and the tech-heavy Nasdaq composite rose 0.3 percent.

U.S. indexes have been lurching up and down since October, mostly down, and the S&P 500 plunged 4.6 percent last week for its biggest loss in more than eight months, as investors felt the U.S. and China are still nowhere close to ending their trade dispute.

Volatility has been high not only week to week but also minute to minute. The S&P 500 zoomed from a gain of 0.2 percent to a loss of 1.8 percent Monday morning before reversing course again.

Investors are questioning the strength of U.S. and global economic growth after a flurry of so-so economic indicators last week. The yield between the 3-year and the 5-year Treasury note flipped, which many investors take as an indication a recession is on its way.

Uncertainty over U.S.-China trade relations isn’t helping. Even as the two nations declared a temporary truce in the tariff wars last week, President Donald Trump called himself “Tariff Man” in a tweet and a top executive from Chinese telecom giant Huawei was arrested in Canada at the request of U.S. authorities.

Apple suffered a setback shortly before the market opened Monday when a Chinese

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Dow recovers from 500-point loss, Britain's Brexit crisis fuels investor angst

US stocks remain volatile as major indexes swung from sharp losses in morning trading to modest gains in the afternoon.

Energy and financial companies are falling and technology companies are rising.

The Dow Jones Industrial Average lost as much as 507 points in early trading before recouping its losses and turning slightly higher in the afternoon. Stocks in Europe and Asia fell.

The British pound is dropping to its lowest level in more 18 months after the UK prime minister postponed a vote on its departure from the European Union, and oil has resumed its sharp slide.

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The S&P 500 index rose 4 points, or 0.2 per cent, to 2637. The Dow added 10 points to 24,399. Technology companies, which have fallen sharply since October, did better. The Nasdaq composite rose 57 points, or 0.8 per cent, to 7026.

MARY ALTAFFER/AP

Both the Dow and S&P 500 are in negative territory for 2018.

US indexes have been lurching up and down since October, mostly down, and the S&P 500 plunged 4.6 per cent last week for its biggest loss in more than eight months, as investors felt the US and China are still nowhere close to ending their trade dispute.

Volatility has been high not only week to week but also minute to minute. The S&P 500 zoomed from a gain of 0.2 per cent to a loss of 1.8 per cent on Monday morning before reversing course again.

Benchmark US crude fell 3.1 per cent to US$51 per barrel in New York. Brent crude, the international standard, lost 1.3 per cent to US$60.89 a barrel in London.

It’s a resumption of

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