Off the wire
• Chicago corn, soybeans, wheat post gains on short covering  • Commonwealth should promote development, partnership:Maltese PM  • Austrian researchers successfully eliminate psoriasis symptoms  • Parents who overvalue kids may help create little narcissists: study  • Albania's CPI increases in February 2015  • Solar impulse flyer makes first stop in Oman on global tour  • LME base metals close higher mostly on Monday  • Foreign exchange rate of euro to other currencies  • Corruption behind Tanzania's increasing wildlife poaching incidents: report  • Urgent: U.S. stocks rebound after heavy sell-off  
You are here: 　 Home

1st LD Writethru: U.S. stocks rebound after heavy sell-off

Xinhua, March 10, 2015 Adjust font size:

U.S. stocks posted modest gains on Monday, as investors re-assessed the impact of February's strong jobs data while no major releases are due during the day.

The Dow Jones Industrial Average jumped 138.94 points, or 0.78 percent, to 17,995.72. The S&P 500 added 8.17 points, or 0.39 percent, to 2,079.43. The Nasdaq Composite Index was up 15.07 points, or 0.31 percent, to 4,942.44.

U.S. equities witnessed a sharp decline Friday, as investors were worried that a strong monthly jobs report heightened speculations that the Federal Reserve could raise interest rates sooner than expected.

Traders were wondering that the markets might overreact to the jobs report, as hourly wages only ticked up 0.1 percent, missing market consensus.

The coming week's economic-data schedule looks light, while Thursday's release of retail sales will be the economic highlight of the week.

Apple was in focus Monday as the tech giant unveiled its first wearable product, known as Apple Watch. The smart watch is the company's newest device in years. Its previous device, iPad, was released in 2010.

Priced at 349 U.S. dollars for the base model, Apple Watch works mostly with iPhone and claims to carry more features and facilitates more applications, or apps, than parallel products on the market.

Among basic functions, it shows email, texts and phone calls, news and fitness readings, as well as weather forecast and personal schedules.

Apple also announced a series of updates to some of the company 's products and services before unveiling Apple Watch.

Apple shares climbed as much as 2.35 percent following the announcement of its updates, but then shaved most gains to end mildly higher, up 0.43 percent to 127.14 dollars apiece, as markets were kind of disappointed about the wearable product.

Overseas, the European Central Bank began its 60 billion euros per month bond buying program on Monday with the aim to fend off deflation and boost the eurozone economy by pumping more money into the real economy. Endite