U.S. stocks rebound on employment report
U.S. stock indexes rebounded Wednesday on a strong U.S. employment report and hopes the U.S. Federal Reserve and other central banks will cut interest rates.
The Dow Jones industrial average rose 143.55 points or 1.08 percent to 13,392.28 in late-morning trading. The broader Standard & Poor's 500 Index added 17.19 or 1.18 percent to 1,479.98.
The technology-heavy Nasdaq Composite Index advanced 41.04 or 1.57 percent to 2,660.87.
The Reserve Bank of Australia did not cut interest rates Wednesday, as the Bank of Canada did Tuesday. The Bank of England and European Central Bank are to make rate decisions Thursday, with the Fed meeting next week.
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 10/32, yielding 3.93 percent, while the 30-year bond was down 19/32, yielding 4.394 percent.
The U.S. dollar rose to 110.885 yen from 109.79 yen in New York late Tuesday. The euro slipped to $1.4658 from $1.4668. // Copyright 2007 by United Press International
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