December 20, 2013
Wall Street rebounds as government shutdown seen short-lived
US stocks kicked off a new month and a new quarter with gains as investors, for now, appeared confident that the first partial government shutdown in nearly two decades would be short-lived.
The Dow Jones industrial average .DJI was up 62.03 points, or 0.41 percent, at 15,191.70. The Standard & Poor's 500 Index .SPX was up 13.45 points, or 0.80 percent, at 1,695.00. The Nasdaq Composite Index .IXIC was up 46.50 points, or 1.23 percent, at 3,817.98.
European shares rose as easing political tensions in Italy and data showing euro zone factory activity growing for a third month in a row helped shares rebound from three-week lows.The FTSEurofirst 300 index was up 0.3 percent at 1,250.86 points. The benchmark is still down about 1.8 percent from a five-year high hit two weeks ago.
Meanwhile, Japan's Nikkei stock average pared much of its early rise to close up 0.2 percent weighed down by worries about the consequences of a US government shutdown.
The benchmark Nikkei closed at 14,484.72, after advancing as much as 1.3 percent to 14,642.97 at one stage as strong corporate sentiment data reinforced expectations that the prime minister would go ahead with a fiscal reform plan and offer stimulus to soften the impact on economy.