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December 14, 2017
Tuesday, February 16, 2016

Wall Street up as battered consumer, bank stocks seem bargains

Wall Street was higher on Tuesday afternoon, extending a rally from Friday, as investors went bargain hunting among beaten-down consumer discretionary, industrial and financial stocks.

Even a drop in crude oil prices, which has dictated the stock market's move recently, failed to derail stocks. The energy sector was the lone laggard among the 10 major S&P sectors, as oil prices fell.

At 12:38 p.m. ET (1738 GMT) the Dow Jones industrial average was up 168.81 points, or 1.06 percent, at 16,142.65.

The S&P 500 was up 23.53 points, or 1.26 percent, at 1,888.31 and the Nasdaq Composite was up 76.26 points, or 1.76 percent, at 4,413.77.

European shares fell on Tuesday after two sessions of strong gains, with disappointment over a deal to tackle a global oil supply glut dampening sentiment.

The pan-European FTSEurofirst 300 index was down 0.4 percent, reversing initial gains and following a 6 percent rise made over the last two sessions. The euro zone's blue-chip index Eurostoxx 50 index slid by the same amount.

Earlier, Japanese stocks rose slightly in choppy trade after the previous day's spectacular rebound as oil prices cleared a one-week high. The Nikkei share average edged up 0.2 percent to close at 16,054.43.

The broader Topix rose 0.4 percent to end the day at 1,297.01 with 19 of its 33 subindexes in positive territory. The JPX-Nikkei Index 400 gained 0.4 percent to 11,721.81.

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Tags:  US  stock market  Europe  Nikkei  





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Edition No. 5055 - This publication is a property of NEFIR S.A. -RNPI Nº 5343955 - Issn 1852 - 9224 - Te. 4349-1500 - San Juan 141 , (C1063ACY) CABA - Director Perdiodístico: Ricardo Daloia