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Markets recover previous session's losses

May 2, 2013 at 6:00 PM   |   Comments

NEW YORK, May 2 (UPI) -- U.S. stocks headed higher Thursday after the European Central Bank lowered its lending rate to 0.5 percent, a historic low.

The Dow Jones industrial average added 130.63 points, regaining most of the 138.85 points lost on Wednesday.

The Dow closed 0.89 percent higher at 14,831.58. The Standard & Poor's 500 index added 14.89 points or 0.94 percent, to 1,597.59. The Nasdaq index added 41.49 points or 1.26 percent to 3,340.62.

On the New York Stock Exchange, 2,358 issues advanced and 753 declined on a volume of 3.4 billion shares traded.

The 10-year treasury note was rose 2/32 to yield 1.629 percent.

The euro fell to $1.306 from Wednesday's $1.3181. The U.S. dollar rose to 97.96 yen from 97.39 yen.

Gold gained $20.10 to $1,466.30 per troy ounce. West Texas Intermediate crude oil added $3.04 to $94.07 per barrel.

In international markets, the Nikkei 225 index in Japan lost 0.76 percent, 105.31 points, to 13,694.04. The London FTSE 100 index added 0.15 percent, 9.42 points, to 6,460.71.

On the Chicago Board of Trade, corn for July delivery gained 15 1/4 cents to $6.62 per bushel. Soybeans for July added 1 cent to $13.74. Wheat added 8 1/2 cents to $7.29 1/2.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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