U.S. stocks rebound as consumer confidence improves
New Delhi Dec 31: U.S. stocks rose , as traders were encouraged by a pickup in consumer confidence and rising energy prices. The gain pulled the Standard & Poor’s 500 index back into positive territory for the year.
Dow Jones industrial average jumped 193 points, or 1.1 percent, to 17,721. The S&P 500 index climbed 22 points, or 1.1 percent, to 2,078. And the Nasdaq Composite gained 67 points, or 1.3 percent, to 5,108.
Wall Street is hoping that a year-end rally sticks. If it does not, there’s a good chance that both the Dow and S&P 500 could suffer their first calendar year decline since 2008, when stocks has plunged more than 30% during the worst financial crisis since the Great Depression.
