News Column

U.S. stocks rebound after recent relatively heavy falls

June 13, 2014

The U.S. stock market rebounded Friday after a two-day losing streak, helped by strong earnings news from chipmaker Intel Corp., as well as merger speculation.

The 30-issue Dow Jones Industrial Average rose 41.55 points, or 0.25 percent, to end at 16,775.74, after losing more than 100 points in the previous two sessions. The tech-heavy Nasdaq Composite Index climbed 13.02 points, or 0.30 percent, to 4,310.65, also the first rise after two days of loss.

The Dow got a lift from buying of Intel, which revised its revenue outlook upward on Thursday. Travel booking site Priceline Group's announcement of its acquisition of restaurant reservation service OpenTable Inc. spurred hopes of more mergers and acquisitions, making high-tech shares a good play, a market source said.

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Source: Japan Economic Newswire

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