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US Stocks Bounce Back from Losses

Business News

0  Updated at 4:07 pm, March 17th, 2014 By: ABC Digital
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iStock/Thinkstock(NEW YORK) — Investors brushed aside the ongoing political turmoil in Ukraine and focused instead on U.S. factory output, which rebounded in february — a sign the economy is beginning to thaw from this winter’s harsh storms.

The Dow Jones Industrial Average rose 182 points to finish the session at 16,247.22. The Nasdaq Composite added 43 points to end the day at 4,279.95. The S&P 500 ended the day up 19 points at 1,858.83.

Monday’s biggest advancements came from technology stocks. Yahoo shares rose 4.3 percent after Alibaba announced plans to go public in the U.S. Yahoo is a partial owner of the Chinese e-commerce website.

U.S. homebuilders’ confidence in the housing market edged higher this month, reflecting improved demand for new homes as the traditional spring home-selling season ramps up.

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