U.S. stocks staged a strong rebound from three days of decline Thursday 13 June 2013, in spite of a huge decline in Tokyo overnight. The debate today was whether this was a “one-day wonder” or the start of a sustainable recovery.
Econintersect offers a market close summary during Gary’s illness with the help of syndication partner Investing.com. Here is the New York Market close summary:
U.S. stocks rallied on Thursday, making strong gains late in the session after investors viewed stocks as oversold after three days of declines.
At the close of U.S. trading, the Dow Jones Industrial Average finished up 1.21%, the S&P 500 index ended up 1.48% as well, while the Nasdaq Composite index rose 1.32%.
A Bank of Japan decision earlier this week to leave monetary policy unchanged after months of rolling out stimulus measures has roiled markets in the past few days largely by fanning uncertainties as to whether the Federal Reserve will follow suit and scale backs stimulus measures.
Stimulus measures such as the Fed’s monthly USD85 billion bond-buying program send stock prices rising to spur recovery, though talk of their dismantling has roiled markets in recent sessions though by Thursday afternoon, investors viewed U.S. equities as oversold.
Optimism began to sprout late in the session that once current volatility subsides, the second half of 2013 will see better economic fundamentals that support stocks in lieu of monetary stimulus programs.
Here are the latest data summaries from Investing.com. Live data in each case can be obtained at Investing.com by clicking on a table displayed.
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