Energy, financial lead U.S. stocks rebound

08:29, June 03, 2010      

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U.S. stocks rebounded from previous session's drop on Wednesday as a rally in energy and financial sectors lifted the market.

Major indexes fell rapidly in final minutes of trading on Tuesday after media reported the United States had launched criminal probe of the oil spill in the Gulf of Mexico.

The market was getting a boost as the euro held steady above the four-year low it touched on Tuesday. The 16-nation currency is seen as a reading on confidence in Europe's ability to contain the sovereign debt crisis.

Adding to the gains, the National Association of Realtors announced that its index for pending home sales rose by 6.0 percent to 110.9 in April as home buyers took advantage of the government tax credit.

The Dow Jones industrial average rose 225.52, or 2.25 percent, to 10,249.54. The Standard & Poor's 500 index gained 27.67, or 2. 58 percent, to 1,098.38 and the Nasdaq rallied 58.74, or 2.64 percent, to 2,281.07.



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