Stock Market Rebounds From Worst Day of the Year
(NEW YORK) — Strong housing and earnings reports helped stocks rebound from their worst day of the year. The Dow Jones industrial average rose 129 points, or 0.9 percent, on Tuesday, to 14,728 as of 1:50 p.m. EDT, winning back about half of the 265 points it lost a day earlier. Home construction topped 1 million last month, the highest level since June 2008. Robust earnings from companies including Coca-Cola also propelled the market higher. A recovery in housing and a pickup in hiring were major catalysts driving the stock market’s surge early this year. The Dow and the Standard & Poor’s 500 jumped 11.3 percent and 10.3 percent, respectively, in the first three months of 2013. (MORE: 6 Reasons Why the Stock Market Could Do Surprisingly Well in 2013) That run-up was interrupted Monday when stocks had their biggest decline since November. Worries about an economic slowdown in China led to a drop in prices for oil, copper, and other commodities, causing mining and energy stocks to fall. ...
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Exclusive: Bain nears $3 billion fundraising close - sources
NEW YORK - Bain Capital LLC is close to securing commitments from investors for about half the $6 billion target for its latest private equity fund, two people familiar with the matter said on Monday.
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Reuters
Asian shares fall on weak U.S. sales; await China data
TOKYO - Asian shares fell on Monday after global equities and commodities slumped late last week on weak U.S. growth and rekindled worries in the euro zone, turning investor sentiment cautious ahead of a batch of Chinese data due later in the day.
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Exclusive: Apax, Morgan Stanley look to sell Hub - sources
NEW YORK - Buyout firm Apax Partners and Morgan Stanley's private equity arm are exploring a sale of Chicago-based insurance brokerage Hub International that could be valued at around $2 billion, two people familiar with the matter said this week.
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Stocks Rise Sharply, Led by Gains in Technology
(NEW YORK) — Technology stocks roared back Wednesday, driving the Standard & Poor’s 500 and Dow Jones industrial average to record highs. The industry has lagged the broader market this year, but surged after network communication company Adtran reported earnings that were double what Wall Street analysts expected. That boosted optimism that businesses will increase spending on technology equipment. Chipmakers Micron and Intel jumped, as did other network equipment makers like Cisco and JDS Uniphase. Stocks were also up on an optimistic reading of the Federal Reserve Bank’s latest minutes. Technology stocks rose 1.8 percent, the most of the 10 industry groups in the S&P. That’s a big change from tech’s weak performance this year. The group is up just 4.7 percent, trailing the S&P’s gain of 11.3 percent. “Tech has performed so poorly, it’s oversold and warrants some interest here,” said Scott Wren, a senior equity strategist at Wells Fargo Advisors. “If the economy ...
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