NEW YORK (AP) — Stocks rose broadly Tuesday after fears that the U.S. would slip into a recession pounded the market over the last four weeks. Indexes briefly slipped from their highest levels of the day after an earthquake was felt throughout the Northeast.
Exxon Mobil Corp. rose the most of the 30 stocks in the Dow Jones industrial average, 2.7 percent. Chevron Corp. was also up more than 2 percent. Energy stocks got a push from a 1 percent increase in the price of oil, to $85 a barrel. The dollar fell against the euro and Japanese yen as investors moved money into riskier assets.
The Dow rose 209 points, or 1.9 percent, to 11,065 in late afternoon trading. It dipped about 60 points shortly after the quake hit the East Coast in the early afternoon, but recovered those losses within minutes.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
