(WASHINGTON) — Commodities helped pull Wall Street out of a three-day slump.
China is the world’s biggest buyer of raw materials. News on Thursday that their trade rebounded last month set mining stocks and share of others companies dealing in commodities up, helping the markets end a three-day slump.
The Dow Jones Industrial Average added 27.65 points on Thursday to close at 15,298.32. The S&P 500 rose 6.57 points to 1,697.48, and the Nasdaq Composite added 15.12 points to close at 3,669.12.
Word that JC Penny is searching to replace CEO Mike Ullman sent shares of the retailer up 7 percent. He took the reins in April when CEO Ron Johnson was ousted after 17 months on the job.
Groupon stock is soaring. The beleaguered online deals company named Eric Lefkofsky permanent CEO and posted stronger than expected second quarter earnings.
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Sam Turner, Deseret News