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.”

Bloomberg

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.