U.S. stocks rebound on economic reports
U.S. stock indexes rebounded Wednesday on strong U.S. economic reports and hopes the U.S. Federal Reserve and other central banks will cut interest rates.
The Dow Jones industrial average rose 196.23 points or 1.48 percent to close at 13,444.96. The broader Standard & Poor's 500 Index added 22.22 or 1.52 percent at 1,485.01.
On the New York Stock Exchange, 2,435 stocks advanced and 836 declined on 3.7 billion shares traded.
The technology-heavy Nasdaq Composite Index advanced 46.53 or 1.78 percent at 2,666.36.
The Bank of England and European Central Bank are to make rate decisions Thursday, with the Fed meeting on rates next week.
The Reserve Bank of Australia kept rates steady Wednesday. The Bank of Canada lowered them Tuesday.
In London, the FTSE 100 stock index closed up 178.60 or 2.83 percent at 6,493.80.
Japan's Nikkei 225 stock index finished up 128.69 or 0.83 percent at 15,608.88.
The benchmark 10-year U.S. Treasury note lost 11/32, yielding 3.943 percent, while the 30-year bond was down 1 4/32, yielding 4.425 percent.
The U.S. dollar rose to 110.90 yen from 109.79 yen in New York late Tuesday. The euro slipped to $1.4611 from $1.4668. // Copyright 2007 by United Press International
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