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DOSSIER – On this Friday, November 9, 2018, the photo trader with Michael Urkonis. left, works with specialists John McNierney, center, and Douglas Johnson on the New York Stock Exchange. The US stock market opens at 9:30 pm EDT on Wednesday, November 21st. (AP Photo / Richard Drew, File) The Associated Press
By MARLEY JAY, AP Writer of the markets
NEW YORK (AP) – US stocks are up on Wednesday morning after two days of heavy losses, and major European indices are also recovering. Big tech companies, including Apple and Microsoft, are on the rise after falling in recent days. Crude oil prices rose about 2% after reaching their lowest level in a year a day earlier.
KEEP THE SCORE: The S & P 500 Index gained 20 points, or 0.8%, to reach 2,663 at 10:00 am ET. That's down 2.7% so far this week. The Dow Jones Industrial Average rose 151 points, or 0.6%, to 24,625. The Nasdaq composite added 101 points, or 1.4%, to 7,008. The Russell 2000 Index shares of small companies gained 15 points, or 1.1%, to 1,484.
Trading was light. US markets will be closed Thursday for the Thanksgiving holiday and will be open on Friday for half a day.
TECHNICAL BACK: Technology companies have recovered some of their recent losses. Amazon rose 1.7% to $ 1,522 and Facebook, from 1.9% to $ 135. Apple rose 0.2% to $ 177.32.
Apple's market value has dropped about $ 250 billion since early October and Amazon's $ 245 billion since the beginning of September. The combined loss of about $ 495 billion for these two companies is greater than the value of all the shares of the S & P 500 except five.
IF THE SHOE FITS: The Foot Locker retailer jumped 15% to 53 USD after earnings and third-quarter earnings exceeding Wall Street's expectations. The company added that it expected strong sales during the holidays.
Autodesk's design software maker climbed 10.2 percent to $ 135.60 after a strong quarterly report. The company also announced the purchase of the software company PlanGrid construction for $ 875 million.
ENERGY: Oil prices rebounded on Wednesday as US benchmark crude oil rose 2.3% to $ 54.66 a barrel in New York. It fell 6.6% Tuesday. Brent crude, the international standard traded in London, rose 1.7% to 63.58 dollars a barrel.
Crude oil prices have fallen since early October because of concerns about rising inventories and slowing global growth.
OBLIGATIONS: Bond prices have fallen. The yield on the 10-year Treasury Note rose from 3.04% to 3.07%.
Utilities and other high dividend stocks also declined. These companies outperformed the rest of the market in turbulent transactions in October and November, but when the market is generally recovering, they are generally left behind.
ECONOMIC CONCERN: A global economic adviser cut economic growth expectations in 2019 and said the global economy was facing increasing risks, including trade disputes and higher interest rates . The Organization for Economic Co-operation and Development, which advises many of the world's richest economies, is now expecting the global economy to grow by 3.5% instead of 3.7% next year. Concerns about slowing growth in the global economy have contributed to recent market losses.
CURRENCIES: The dollar has risen from 112.40 yen to 112.98 yen. The euro rose slightly from 1.1399 dollar to 1.1403 dollar.
Overseas: the German DAX and the British FTSE 100 both rose 1%. The CAC 40 in France added 0.6%.
The Japanese benchmark Nikkei 225 fell by 0.4% and that of Kospi in South Korea by 0.3%. The Hang Seng Hong Kong index rose 0.5%.
You can contact Marley Jay, Writer of Stock Markets, at http://twitter.com/MarleyJayAP
Copyright 2018 The Associated Press. All rights reserved. This material may not be published, disseminated, rewritten or redistributed.
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