Sunday, Jul 24, 2016
One of America's Great Newspapers ~ Toledo, Ohio

Stock Market

Stocks rebound as factory output surges

NEW YORK — Stocks are sharply higher in midday trading following news that output at U.S. factories surged last month.

The Dow Jones industrial average rose 160 points, or 1 percent, to 16,226 as of noon today.

The increase in factory production was the biggest in six months. That reassured investors that an economic slowdown in January may have been temporary as much of the United States was affected by severe winter weather.

The early surge came as concerns about the ongoing political crisis in Ukraine faded.

The Standard & Poor’s 500 index rose 16 points, or 0.9 percent, to 1,856. The Nasdaq composite index rose 38 points, or 0.9 percent, to 4,284.

Hertz rose 5 percent following a report that the company may spin off its construction equipment business.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2015 Toledo Blade

To Top

Fetching stories…