NEW YORK, New York – Technology stocks led a rebound on Wall Street Thursday as bond yields softened.
“We’re in a period of time between the end of the second-quarter earnings season and meaningful additional data from the Federal Reserve. Markets are churning a bit with a reasonably low level of volatility,” Bill Northey, senior investment director at U.S. Bank Wealth Management in Minneapolis, told Reuters Thursday.
“Lower interest rates have certainly put some support underneath some of the more growth-oriented sectors,” Northey added.
The Nasdaq Composite advanced 207.14 points or 1.67 percent to 12,639.27.
The Dow Jones industrials increased 322.55 points or 0.98 percent to 33,291.78.
The Standard and Poor’s 500 climbed 58.35 points or 1.41 percent to 4,199.12.
The U.S. dollar was mixed on foreign exchange markets Thursday. The euro continued to trade below parity, but only just. At the last call around the New York close Thursday, the EU unit was changing hands at 0.9979. The Japanese yen appreciated to 136.51. The British pound was steady at 1.1833. The Swiss franc firmed to 0.9636.
The Australian dollar led the commodity bloc with a strong rise to 0.6977 by the New York close Thursday. The New Zealand dollar gained to 0.6225. The Canadian dollar was stronger at 1.2929.
On overseas equity markets, the FTSE 100 in London edged up 0.11 percent. The German Dax rose 0.39 percent. In Paris, the CAC 40 dipped 0.08 percent.
In Hong Kong, the Hang Seng surged 699.64 points or 3.63 percent to close at 19,968.38.
In Japan, the Nikkei 225 firmed 165.54 points or 0.58 percent to 28,479.01.
The Australian All Ordinaries climbed 49.60 points or 0.68 percent to 7,291.90.
South Korea’s Kospi Composite added 29.81 points or 1.22 percent to 2,477.26.
In China, the Shanghai Composite increased 31.04 percent or 0.97 percent to 3,426.25.
New Zealand’s S&P/NZX 50 went against the trend, sliding 28.19 points or 0.24 percent to 11,627.14.