Summary
NEW YORK -- Wall Street capped a volatile week with a big advance Thursday, rebounding from a steep sell-off as investors sought bargains and cheered a milder-than-expected drop in a regional manufacturing report. The Dow Jones industrial average rose about 260 points Thursday, giving the blue chips a gain of more than 3 percent for the week, while broader indexes finished the week with gains of 2 percent to 3 percent. The markets are closed for Good Friday.
Besides the manufacturing reading from the Philadelphia Federal Reserve, a plunge in commodities prices gave investors some hope that lower energy and food prices might boost consumers' discretionary spending and ease inflation concerns. Wall Street found reason to buy back into stocks when the Philadelphia Fed said manufacturing activity is dropping in March by less than it did in February, and by less than many economists anticipated.See the full content of this document
Extract
Wall Street Rebounds From Sell-Off
Investors appeared relieved about the report, but economic jitters are far from alleviated. On top ...
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