Energy
and health-care shares led a rebound in U.S. stocks, as the Standard
& Poor’s 500 Index followed the steepest selloff since September
with its strongest gain in a month, and the Dow Jones Industrial Average
rallied more than 220 points.
The
S&P 500 rose 1.7 percent to 1,921.64 at 4 p.m. in New York,
trimming in the final hour of trading a gain of as much as 2.3 percent.
The
recovery accelerated earlier while Federal Reserve Bank of St. Louis
President James Bullard answered questions from reporters following a
speech in which the policy maker, who was a vocal proponent of raising
interest rates, sounded a more cautious tone. He said the latest decline
in oil prices may delay the return of inflation to the central bank’s 2
percent target.
Source: Bloomberg
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