{"id":55392,"date":"2016-05-02T23:00:53","date_gmt":"2016-05-02T21:00:53","guid":{"rendered":"http:\/\/www.arabtelegraph.com\/?p=55392"},"modified":"2016-05-02T23:00:53","modified_gmt":"2016-05-02T21:00:53","slug":"wall-st-rebounds-nasdaq-breaks-seven-day-losing-run","status":"publish","type":"post","link":"https:\/\/www.arabtelegraph.com\/?p=55392","title":{"rendered":"Wall St. rebounds; Nasdaq breaks seven-day losing run"},"content":{"rendered":"<p dir=\"ltr\"><strong><span class=\"articleLocatio&lt;\/span&gt;n\">U.S. stocks rose on Monday, rebounding from losses last week, as financials gained with Berkshire Hathaway and weakness in the dollar eased worries about earnings for multinationals.<\/span><\/strong><\/p>\n<p dir=\"ltr\">The Nasdaq snapped a seven-session losing streak, though Apple fell for an eighth straight session, its longest run of losses since mid-1998.<\/p>\n<p dir=\"ltr\">Gains in consumer shares also lifted stocks, which on Friday had posted their largest weekly drop in more than two months. Amazon shares jumped 3.7 percent to $683.85, giving the S&amp;P 500 and Nasdaq their biggest boosts, while both the consumer discretionary sector and staples gained more than 1 percent each.<\/p>\n<p dir=\"ltr\">The dollar index .DXY fell 0.5 percent and is down 6.1 percent for the year so far, a trend that should bode well for U.S. companies with a lot of overseas sales.<\/p>\n<p dir=\"ltr\">&#8220;It seems like the weak dollar superseded everything today, and we&#8217;ve got people coming in to buy stocks,&#8221; said Bucky Hellwig, senior vice president at BB&amp;T Wealth Management in Birmingham, Alabama. &#8220;The weaker dollar helps companies that do business abroad.&#8221;<\/p>\n<p dir=\"ltr\">While first-quarter earnings from S&amp;P 500 companies have mostly beaten analysts&#8217; expectations, they are still estimated down 5.7 percent from a year ago, according to Thomson Reuters data.<\/p>\n<p dir=\"ltr\">Berkshire Hathaway, was up 0.6 percent following its annual shareholder meeting on Saturday, while the financial sector .SPSY climbed 1.1 percent.<\/p>\n<p dir=\"ltr\">The Dow Jones industrial average\u00a0 closed up 117.52 points, or 0.66 percent, to 17,891.16, the S&amp;P 500\u00a0 gained 16.13 points, or 0.78 percent, to 2,081.43 and the Nasdaq Composite added 42.24 points, or 0.88 percent, to 4,817.59.<\/p>\n<p dir=\"ltr\">Recovering oil prices and an accommodative Federal Reserve have helped the S&amp;P 500 rise roughly 14 percent since mid-February.<\/p>\n<p dir=\"ltr\">U.S. manufacturing activity rose for the second straight month in April, but at a slightly slower pace. The Institute for Supply Management (ISM) said its index of national factory activity slipped to 50.8 last month from 51.8 in March.<\/p>\n<p dir=\"ltr\">A report from the Commerce Department showed construction spending rose to an 8-1\/2-year high in March.<\/p>\n<p dir=\"ltr\">Baker Hughes shares fell 2 percent to $47.40 after scrapping a deal to merge with larger rival Halliburton. Halliburton rose 1.8 percent to $42.05.<\/p>\n<p dir=\"ltr\">Apollo Education shares jumped 12.4 percent to $8.77 after a group of investors raised their offer to $1.14 billion to buy the for-profit education provider.<\/p>\n<p dir=\"ltr\">About 7.1 billion shares changed hands on U.S. exchanges, even with the daily average for the past 20 trading days, according to Thomson Reuters data.<\/p>\n<p dir=\"ltr\">NYSE advancing issues outnumbered decliners 1,903 to 1,109, for a 1.72-to-1 ratio on the upside; on the Nasdaq, 1,674 issues rose and 1,165 fell for a 1.44-to-1 ratio favoring advancers.<\/p>\n<p dir=\"ltr\">The S&amp;P 500 posted 15 new 52-week highs and 3 new lows; the Nasdaq recorded 62 new highs and 35 new lows.<\/p>\n<p dir=\"ltr\">\n","protected":false},"excerpt":{"rendered":"<p>U.S. stocks rose on Monday, rebounding from losses last week, as financials gained with Berkshire Hathaway and weakness in the dollar eased worries about earnings for multinationals. The Nasdaq snapped a seven-session losing streak, though Apple fell for an eighth straight session, its longest run of losses since mid-1998. Gains in consumer shares also lifted &hellip;<\/p>\n","protected":false},"author":3,"featured_media":55396,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36],"tags":[],"class_list":["post-55392","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-te-public"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Wall St. rebounds; Nasdaq breaks seven-day losing run - Arab Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.arabtelegraph.com\/?p=55392\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wall St. rebounds; Nasdaq breaks seven-day losing run - Arab Telegraph\" \/>\n<meta property=\"og:description\" content=\"U.S. stocks rose on Monday, rebounding from losses last week, as financials gained with Berkshire Hathaway and weakness in the dollar eased worries about earnings for multinationals. 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