Wed, 26 Feb 2020

Profit-takers push Wall Street indices higher

Lola Evans
29 Jan 2020, 07:45 GMT+10

NEW YORK, New York - U.S. stocks were mostly higher on Tuesday after sharp falls on Monday.

Stocks rebounded across the globe as profit-takers took advantage of the major losses which occurred on Monday, when the Standard and Poor's 500 recorded its biggest 1-day percentage drop in 4 months.

Transport stocks, and shares in casino and hotel groups were all bought up.

At the close of trading Tuesday the Dow Jones Industrial Average was ahead 186.23 points, or 0.65%, at 28,722.03.

The S&P 500 added 32.59 points, or 1.00%, to 3,276.22.

The Nasdaq Composite climbed 130.37 points, or 1.43%, to 9,269.68.

On foreign exchange markets the U.S. dollar remained well bid. The euro, after touching a low of 1.0997, recovered to trade at 1.1022.

The British pound weakened to 1.3024.

The Japanese yen eased a touch to 109.16, as did the Swiss franc to 0.9729.

The Canadian dollar was little changed at 1.31.60. The Australian dollar recovered a fractkion to 0.6762, while the New Zealand dollar was unchanged at 0.6544.

In Europe, the FTSE 100 in London jumped 0.93%. The German Dax was up 0.90%. The Paris-based CAC 40 rose 1.07.

The Australian All Ordinaries dropped 103.40 points or 1.44% to 7,099.80.

Across the Tasman, the New Zealand S&P/NZX shed 122.03 points or 1.03% to 11,685.11.

In Japan, the benchmark Nikkei 225 closed down 127.80 points or 0.55% at 23,215.71.

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