U.S. stock markets rebounded Tuesday on a smattering of positive economic data
and news that China's central bank would work to control interest rates.
In midday trading, the Shanghai composite index dropped more than 5 points-- after closing down 5.3 percent on Monday -- but the index rallied Tuesday after a bank official said the policy makers would attempt to guide inter-bank lending rates, which have been volatile lately.
On Wall Street, the Dow Jones industrial average added 100.75 points, 0.69 percent, to 14,760.31.
The Nasdaq gained 27.13 points, or 0.82 percent, to close at 3,347.89. The Standard & Poor's 500 tacked on 14.94 points, or 0.95 percent, to finish at 1,588.03.
Markets were buoyed by data from May that showed new home sales up 2.1 percent and durable goods orders up for the third month out of the past four.
The Conference Board in New York said consumer confidence rose in June for third consecutive month, a portent of the recovery gaining momentum, the firm said.
On the New York Stock Exchange, 2,493 stocks advanced and 620 declined on a volume of 3.7 billion shares traded.
Japan's Nikkei 225 index lost 0.72 percent, 93.44 points, to close at 12,969.34.
Britain's FTSE 100 index rose 1.21 percent, or 72.81 points to 6,101.91.
The 10-year treasury note yielded 2.613 percent.
On currency markets, the euro dropped to $1.3081. Against the yen, the dollar was higher 97.83 yen.
Gold dropped to $1,276.80 an ounce on the New York Mercantile Exchange's Comex division, while silver closed at $19.595 an ounce.
Crude oil prices climbed to $95.23 per barrel in after-hours trading. on the York Mercantile Exchange.
On the Chicago Board of Trade, December corn finished off 1 1/2 cents at $5.45, November soybeans added 4 1/4 cents to $12.77 3/4 and wheat for July contracts shed 2 3/4 cents to $6.76 1/4.
Most Popular Stories
- 5 Notable Hispanic Technology Executives
- Top Hispanic Tech Companies Push for the Top
- Tesla's Alt-Energy Future Aims for Massive Lithium-Ion Battery Production
- Rand Paul Tops Presidential Straw Poll at Conservative PAC Conference
- Russia, Crimea Discuss Referendum
- China Urges Malaysia Flight Emergency Response
- New Chat App, Yik Yak, Causes Problems for Students
- Gas Prices May Jump from Calif. Emissions Law
- Obama Meets with Ukraine Prime Minister Wednesday
- Visa, MasterCard Team Up to Focus on Payment Security