Friday, 10 July 2015 01:31
NEW YORK: US stocks finished higher Thursday, bouncing back from deep losses in the prior session following strong gains in Asian and European equity markets.
At the closing bell, the Dow Jones Industrial Average was at 17,547.49, up 32.07 points (0.18 percent).
The broad-based S&P 500 rose 4.57 (0.22 percent) to 2,051.25, while the tech-rich Nasdaq Composite Index gained 12.64 (0.26 percent) at 4,922.40.
US stocks were in positive territory all day, but the gains eroded in the afternoon. The S&P 500 was up by nearly 30 points during its peak earlier in the session.
“What you’re seeing today is a relief rally after a very bad day yesterday,” said David Levy, portfolio manager at Kenjol Capital Management.
However, both the Greek debt crisis and the Chinese stock market retreat remain “headline risks,” Levy said.
