Dow rebounds after hitting 7-month low

08:33, June 09, 2010      

Email | Print | Subscribe | Comments | Forum 

The Dow Jones average rebounded on Tuesday after hitting a 7-month low as Federal Reserve Chairman Ben Bernanke gave upbeat remarks on the U.S. economy recovery.

The Fed chief said that the U.S. recovery probably began sometime late last summer, and that consumer spending and business investments appear to be taking over from the fading government stimulus in lifting the economy. His assessment also eased worries that a slowdown in Europe will spread across the Atlantic.

The euro rebounded against the U.S. dollar on Tuesday as European Union finance ministers agreed Tuesday on far-reaching steps to tighten oversight of national governments' budgets and crack down on falsification of economic data, in a concerted effort to avert a further loss of confidence in the euro.

Shares of McDonald's Corp. rose 2.43 percent, to 68.38 U.S. dollars after the company said Tuesday its global comparable store sales rose 4.8 percent last month.

DuPont gained 4.11 percent, to 35.49 dollars as the Agriculture Department approved the company's new soybean for cultivation in the United States.

The Dow Jones Industrial Average rose 123.49, or 1.26 percent to 9,939.98. The Standard & Poor's 500 Index was up 11.53 points, or 1.10 per cent, at 1,062.00. The Nasdaq Composite Index was down 3.33 points, or 0.15 per cent, at 2,170.57.

Source:Xinhua

(Editor:黄蓓蓓)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Giant red lantern lights up in Tiananmen Square to celebrate the coming National Day on Oct. 1. (Xinhua/Li Xin)
  • A ceremony is held in Taipei, southeast China's Taiwan, on Sept. 28, 2011, to commemorate the 2,562nd birthday of Confucius (551-479 BC), a Chinese thinker, educationist and philosopher. (Xinhua/Wu Ching-teng)
  • The world's first Boeing 787 Dreamliner for delivery arrives at Haneda airport in Tokyo, capital of Japan, on Sept. 28, 2011. The Boeing 787 Dreamliner, whose buyer is All Nippon Airways (ANA), will implement a flight of ANA on Oct. 26 from Tokyo's Narita Airport to Hong Kong in south China. (Xinhua/Ji Chunpeng)
  • A Libyan National Transitional Council (NTC) fighter shows what is believed to be human jawbone found inside a mass grave near Abu Salim prison in Tripoli, Libya, Spet. 27, 2011. The NTC on Sunday said they had found a mass grave containing the bodies of 1,270 people killed by Gaddafi's security forces in a 1996 massacre at Abu Salim prison in southern Tripoli. (Xinhua/Li Muzi)
  • Rescue workers and local residents search for survivors after a building collapsed in old Delhi, India, Sept. 27, 2011. At least 10 people were killed and 35 injured when an old three-storey building collapsed. More than a dozen people are still feared trapped under the debris, police said. (Xinhua/Partha Sarkar)
  • A visitor has flying experience in the windmill castle of Jinshitan National Holiday resort in Dalian, northeast China's Liaoning Province, Sept. 27, 2011. The castle is a 23-meter-high building with 21 meters in diameter. The castle uses wind tunnel to make objects floating in the air. It is the first indoor stadium in China, which enables people to have flying experience. (Xinhua/Zhang Chunlei)
Hot Forum Discussion