U.S. stocks rebounded
from a selloff in futures after comments by a Federal Reserve official
refocused investors on the implications for interest rate policy of last
week’s employment data.
Energy and utility
companies led the advance, with Hess Corp. and Halliburton Co. up at
least 4.3 percent. Apple Inc. added 1.5 percent, while Coca-Cola Co.
rose 2.2 percent amid gains in consumer stocks.
The Standard &
Poor’s 500 Index gained 0.8 percent to 2,083.98 at 12:38 p.m. in New
York after falling as much as 0.5 percent. The Dow Jones Industrial
Average climbed 151.26 points, or 0.9 percent, to 17,914.50. The Nasdaq
Composite Index added 0.7 percent.
Futures fell 1 percent
on Friday after Labor Department data showed payrolls increased by
126,000 in March, the least since December 2013. The report is the
latest of a number of economic releases to miss projections this year.
While exchanges were closed for the Good Friday holiday.
Source: Bloomberg
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