TELETRADER News
10/12, 3:30 PM (Source: TeleTrader.com)
more TeleTrader news

US markets rebound sharply after correction

Shares on Wall Street jumped at the opening bell on Friday, rebounding from steep declines in the previous two days, as investors' concerns over expected interest rate hikes eased. The Dow lost over 1,300 points in total after two days on yesterday's close. Before the bell, major banks, such as Wells Fargo, JP Morgan and Citigroup, posted better than expected earnings results.

The Dow Jones Industrial Average index spiked 1.62% at the open, adding over 400 points. Visa led the gains increasing 3.98%. The S&P 500 climbed 1.64%. The Nasdaq 100 surged 2.62%. Video game company Activision Blizzard led the gains on the tech index, while the giants traded in the green.

The euro fell 0.30% against the dollar, selling for $1.15590 at 3:32 pm CET.

Breaking the News / NI