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1st LD Writethru: U.S. stocks rebound amid upbeat data, mixed earnings

Xinhua, January 30, 2015 Adjust font size:

U.S. stocks bounced back on strong jobless data Thursday after a two-day selloff, as investors took in mixed fourth-quarter earnings.

The Dow Jones Industrial Average jumped 225.48 points, or 1.31 percent, to 17,416.85. The S&P 500 rose 19.09 points, or 0.95 percent, to 2,021.25. The Nasdaq Composite Index added 45.41 points, or 0.98 percent, to 4,683.41.

In the week ending Jan. 24, the advance figure for seasonally adjusted initial jobless claims dropped by 43,000 to 265,000, hitting the lowest level since April 15, 2000, said U.S. Labor Department.

Investors are trying to absorb the statement released by the Federal Reserve Wednesday when the Fed upgraded its assessment of the domestic economy to "solid" growth from "moderate".

Quarterly earnings came in mixed Thursday. Shares of Alibaba tanked 8.78 percent to 89.81 dollars apiece, after the Chinese e- commerce giant reported quarterly revenue short of market estimates. The company's quarterly revenue increased by 40 percent to 4.2 billion U.S. dollars, while its quarterly net income showed a decrease of 28 percent.

"The main reason (of Alibaba's plunge) is that the take-rate from Taobao and Tmall was worse than investors expected, and the pressure on take-rate is to continue as more consumers use mobile to make transaction," said Henry Guo, senior research analyst at JG Capital.

Ford Motor said Thursday its fourth-quarter net income plummeted to 52 million U.S. dollars from 3 billion dollars a year ago. Still, earnings adjusted for one-time costs were 26 cents a share, beating analysts' expectations. The company's shares gained 2.70 percent to 14.85 dollars apiece.

McDonald's surged 5.06 percent to 93.27 dollars apiece after the fast-food chain said its chief executive officer would be replaced by its chief brand officer in March.

On the previous day, U.S. equities extended losses despite cheerful earnings, as the Fed's statement and falling oil price weighed on market sentiment. Endite