Airlines stock lead the charge, Dow at 11,142, up 163 and rising.
NEW YORK (AP) — The stock market is rebounding a day after a
big-sell off brought on by concerns over a slowdown in China.
Stocks rose in midday trading Wednesday, regaining much of the
ground lost the day before, as traders saw overnight gains in China
as an encouraging sign that the country’s surprise interest rate
hike will not dampen the global economy.
A batch of mainly positive corporate earnings reports from
companies like Delta Air Lines Inc. and Boeing Co. also helped send
the stock market broadly higher in late morning trading.
The Shanghai Composite Index, China’s main stock market benchmark,
rose 0.2 percent in overnight trading. Those gains “helped create a
more constructive tone for the trade this morning,” said Nick
Kalivas, an equity analyst for MF Global.
The Dow Jones industrial average rose 155.0, or 1.4 percent, to
11,133.62. The broader Standard and Poor’s 500 index was up 15.5,
or 1.3 percent, to 1,181.43, and the technology-focused Nasdaq
composite index was up 29.8, or 1.2 percent, to 2,466.83.
