U.S. stock markets rebound a bit Tuesday

Feb. 4, 2014 at 5:04 PM
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NEW YORK, Feb. 4 (UPI) -- U.S. stocks rebounded some Tuesday, a day after tumbling badly, with anticipation building for Friday's Labor Department employment report.

After Monday's weaker-than-expected manufacturing data triggered a 326-point plummet on in the Dow Jones industrial average -- a 2 percent drop -- "people want to see if there's real weakness in the U.S. economy or if the [manufacturing] number was just a fluke," chief global strategist for J.P. Morgan Funds told the Wall Street Journal.

"If we see a weak jobs number, the market could pretty quickly extend recent losses, or pretty quickly reverse them with a stronger number," he said.

On Tuesday, the DJIA gained 0.47 percent, or 72.44 points, to 15,445.24. The Standard & Poor's 500 added 13.31 points, 0.76 percent, to 1,755.20. The Nasdaq composite index climbed 0.86 percent, adding 34.56 points to return above the 4,000 plateau at 4,031.52.

On the New York Stock Exchange, 2,117 stocks advanced and 999 declined on a volume of 4 billion shares traded.

In Japan, the Nikkei 225 index gave up 610.66 points, 4.18 percent, to 14,008.47.

London's FTSE 100 dipped 0.25 percent, losing 16.39 points, closing at 6,449.27.

The 10-year U.S. treasury was yielding 2.634 percent, off 15/32.

The euro traded at $1.3515 against the dollar. Against the yen, the dollar was trading at 101.64 yen.

Gold shed $5.40 to close at $1,254.50 an ounce on the Comex division of the New York Mercantile Exchange. Silver gained 7.1 cents to reach $19.48 an ounce.

Crude oil added $1.17 to reach at $97.643 per barrel on the NYMEX.

Corn for March contracts added 5.75 cents to $4.415 per bushel on the Chicago Board of Trade. March soybeans added 19.25 cents to $13.12. Wheat added 21.25 cents to $5.85.

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