US Stocks Rebound After Bloody Monday

U.S. stocks advanced, with the Standard & Poor’s 500 Index rebounding from its biggest drop since June, as investors assessed corporate earnings and data showing factory orders fell less than estimated in December.

The S&P 500 climbed 0.8 percent to 1,755.20 at 4 p.m. in New York. The Dow Jones Industrial Average (INDU) added 72.44 points, or 0.5 percent, to 15,445.24. About 7.6 billion shares changed hands on U.S. exchanges, 21 percent above the three-month average.

“Main Street is still chugging along. Earnings have been fine,” Ethan Anderson, senior portfolio manager at Rehmann Financial in Grand Rapids, Michigan, said in a phone interview. His firm oversees $1.5 billion. “You put all these together and I’m just not seeing anything that’s suggesting that the train is off the track. We’re pretty much in a very healthy pullback. To me, it’s refreshing.”


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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu