Market Rebounds in Late Trading to Finish Higher
The U.S. equity market rebounded in late trading to finish higher, with all three major indexes ending the day in green. The Dow Jones ended the day 0.20% higher at 11,203.55, the S&P 500 ended the day 0.25% higher at 1,199.73 and the Nasdaq ended the day 0.15% higher at 2,518.12.
Among the major movers in the U.S. equity market was Dell Inc. (NASDAQ: DELL), which reported its third-quarter financial results after market close on Thursday. Shares of the Round Rock, Texas-based Company ended the day 1.68% higher at $13.90.
Other major movers in today’s trading included Salesforce.com Inc. (NYSE: CRM), which closed 18.11% higher at $136.74 after announcing its third-quarter financial results, and Del Monte Foods Company (NYSE: DLM), which closed 11.46% higher at $17.51 after reports said that the company is in advanced talks with Kohlberg Kravis Roberts & Co for a possible takeover.
Equity markets fell in early trading today after China raised is reserve requirements by 50 basis points for the country’s banks to curb inflation. This is the second time China has raised the reserve requirements for banks in the last two weeks.
Ben Bernanke, meanwhile, defended his quantitative easing program, in a speech in Frankfurt, Germany, earlier in the day. Defending the Fed’s $600 billion bond buying program, Bernanke said that it will aid the global economy. The Federal Reserve Chairman also implicitly criticized China for keeping its currency artificially low.
Related posts:
- ANN, FONR, KIRK, HNZ, HIBB, DELL are Stocks to Watch on Nov-19 Afternoon
- Stocks Continue to Decline on China Tightening
- Stock Index Futures Down as China Raises Reserve Requirements for Banks
- Market up in Late Trading
- SJM, CRM, MTXX, ANN, HRL, INTU are Stocks to Watch on Aug-20 Afternoon
