Traders work on the floor of the New York Stock Exchange.(Photo: Justin Lane, EPA)
Stocks rebounded Wednesday as the Dow jumped more than 100 points in afternoon trading a day after the blue-chip index suffered its worst loss of May.
The major indexes were up for the first time in three trading sessions.
Reports of a potential deal between Greece and its bailout creditors provided support to stocks as European markets soared.
In afternoon trading, the Dow Jones industrial average was up 128 points, or 0.7%, recovering some of the 190-point loss it suffered Tuesday.
The Standard & Poor’s 500 index gained 0.8% to 2121, with the tech sector leading among the 10 S&P sectors. The tech-heavy Nasdaq composite index jumped 1.1% to 5090.
STOCKS: Live markets blog
The U.S. dollar extended gains against some currencies after a surge the previous day. Traders sent the dollar higher on signs of improvement in the U.S. economy such as better-than-expected home sales, business investment and consumer confidence.
The dollar’s sharp appreciation was a partial factor in Tuesday’s sell-off. The strong dollar sent commodity prices falling, which in turn hit shares of material, oil and gas and industrial companies.
The dollar rose to 123.85 yen Wednesday from 122.99 yen in the previous trading session. The euro dipped to $1.0882 from $1.0881.
Overseas, European markets jumped after Greece’s Prime Minister Alexis Tsipras says his country is close to reaching a deal with its creditors, but stressed that “calm and determination” were needed in the final stretch of negotiations.
Speaking after a meeting at the finance ministry in Athens on Wednesday, Tsipras said that “we have made many steps, and we are in the final stretch, we are close to an agreement.”
His comments came shortly after government officials said negotiators were to start drafting a staff-level agreement with creditors to end a months-long deadlock and unlock aid that would allow the country to make a looming debt repayment on June 5.
Britain’s FTSE 100 index surged 1.2% and Germany’s DAX index gained 1.3%. France’s CAC 40 jumped 2%.
In Asia, Japan’s Nikkei 225 index was up 0.2% and Hong Kong’s Hang Seng index dropped 0.6%. China’s Shanghai composite index added 0.6%.
U.S. stock markets closed lower on Tuesday as the Dow dropped 190.48 to 18,041.54.
Contributing: The Associated Press
VIDEO: THE DAY IN MONEYCraft Brewers Choosing to Stay Small, Local | 01:36
A small brewery in Maine is part of an explosion of local breweries that see their mission as catering to their home base rather than developing into a big business. (May 27) AP
VIDEO: THE DAY IN MONEYCostco earnings, housing data: what to watch on Wall Street May 27 | 01:10
On Wednesday, May 27 we keep an eye on six companies that are scheduled to report their quarterly financial results as well as a couple of economic data to watch on Wall Street. Newslook
VIDEO: THE DAY IN MONEYTwitter, Flipboard deal could chip away at Facebook’s Empire | 01:41
Twitter is reportedly in talks to buy Flipboard. Here’s why the acquisition makes sense for both companies. Video provided by Newsy Newsy
VIDEO: THE DAY IN MONEYIRS says thieves stole tax info from 100,000 | 01:40
IRS says thieves used online agency service to get access to 100,000 tax returns. (May 26) AP
VIDEO: THE DAY IN MONEYWorkday tumbles despite earnings | 00:53
Keep an eye on shares of Workday Inc (WDAY) in Wednesday’s trading session. The stock may be on the move following the company’s latest quarterly earnings release. Workday also issued its second quarter revenue outlook. Newslook
VIDEO: THE DAY IN MONEYFord takes on North African market by opening offices in Morocco | 00:39
American manufacturer Ford announced the opening of two sales offices in Morocco, in Casablanca and Tanger (north), an implantation that would allow it to strengthen its presence on the North African market. Video provided by AFP Newslook
VIDEO: THE DAY IN MONEY5 things to know about the Time Warner Cable/Charter deal | 02:15
USA TODAYS Roger Yu talks about Charter Communications deal to purchase Time Warner Cable. USA TODAY
VIDEO: THE DAY IN MONEYCharter buying Time Warner Cable for $55.3B | 01:23
Charter Communications is buying Time Warner Cable for $55.33 billion, creating another U.S. TV and Internet giant. (May 26) AP
VIDEO: THE DAY IN MONEY3 ad agencies to buy now | 01:23
With Mad Men coming to an end, we decided to check TheStreet Ratings for advertising companies that could be good investments. The U.S. remains the leader in the global advertising market. It is projected that marketers in the U.S. will spend close The Street
VIDEO: THE DAY IN MONEYAndroid Auto comes to Hyundai Sonata | 02:07
USA TODAY’s Chris Woodyard demonstrates the new Android Auto system in the Hyundai Sonata. Android Auto brings the functions of the mobile phone into the automobile. Video produced by Robert Hanashiro, USA TODAY
VIDEO: THE DAY IN MONEY$28,000 Compact SUV Challenge | 07:10
After four days of testing outside of Baltimore with experts from Cars.com, USA Today and “MotorWeek” as well as a real-life family, here’s a video on how each car performed: USA TODAY
VIDEO: THE DAY IN MONEYJim Cramer says own Ebay as a way to play its split with Paypal | 01:51
TheStreet’s Jim Cramer answers your Twitter questions from the floor of the New York Stock Exchange. Jim tackles a question on how to play the upcoming Ebay(EBAY) and Paypal split. Newslook
VIDEO: THE DAY IN MONEYFoot locker reports better-than earnings on sales growth | 01:12
Shares of Foot Locker (FL) are higher on Friday after the specialty athletic retailer reported first quarter earnings that topped expectations. Foot Locker posted earnings that rose to $184 million, or $1.29 a share. Newslook
VIDEO: THE DAY IN MONEYDeere tops estimates despite 30% drop in profit amid lower demand | 01:13
Shares of Deere (DE) were rising on Friday following the farming equipment maker’s better-than-expected quarterly earnings. Although Deere’s second-quarter profit fell nearly 30% year-over-year to $690.5 million, or $2.03 a share, it still topped an Newslook
VIDEO: THE DAY IN MONEYCampbell soup shares Rise as profit tops estimates, revenue misses | 01:15
Shares of Campbell Soup (CPB) are trading higher on Friday after reporting adjusted earnings that beat analysts’ expectations. Campbell said it earned $182 million in the quarter, down from $184 million a year ago. Excluding special items, earnings Newslook
VIDEO: THE DAY IN MONEYNetflix, ZS Pharma get price target hikes; gap is losing relevance | 01:37
In Friday’s Analysts’ Actions, we highlight higher price targets on Internet video streaming service Netflix Inc (NFLX) and biopharmaceutical company ZS Pharma (ZSPH), while global apparel retailer Gap Inc (GPS) gets hit with some negative notes. Newslook
VIDEO: THE DAY IN MONEYRaw: Court Frees Korean Air ‘Nut Rage’ Executive | 00:39
A South Korean court on Friday suspended the prison term of a former Korean Air executive whose onboard “nut rage” tantrum delayed a flight last year, immediately ending her incarceration. (May 22) AP
VIDEO: THE DAY IN MONEYKnow Right Now: California Governor Declares State of Emergency After Oil Spill | 01:05
An oil spill along the Santa Barbara coast triggers a state of emergency. Time
VIDEO: THE DAY IN MONEYHere are the three things your boss never wants to hear you say | 04:12
Career Expert Roy Cohen says there are some things your boss never wants to hear, and the worst three things are ‘I quit,’ ‘I’m pregnant,’ and ‘I’m bored.’ Newslook
VIDEO: THE DAY IN MONEYWill Shopify go the way of Etsy? | Americas Markets | 01:36
America’s Markets with David Craig. Shopify is riding high up 51% after its IPO. But at the same time Etsy is reeling, now down 42% after a massive gain following their own IPO. Michael Monday
VIDEO: THE DAY IN MONEYTransocean leads S&P 500 to record; McDonald’s pressures Dow | 01:07
The S&P 500 closed at a new record Thursday as oil prices surged. Crude saw its biggest one-day rally in a month, climbing 3 perccent to over $60 a barrel. Transocean (RIG) was among the best performers on the S&P 500 after settling with BP (BP) ove Newslook
VIDEO: THE DAY IN MONEYWhat’s coming to Netflix in June? | 00:37
Summer is starting, but thanks to Netflix you may want to spend the beginning of the season holed up inside and glued to your couch. But also, the streaming service is hooking audiences up with an awesome new slate of movies and TV shows. Wochit
VIDEO: THE DAY IN MONEYJim Cramer adds Starwood hotels Stock to action alerts plus | 03:26
Jim Cramer, portfolio manager for Action Alerts Plus discusses recent position changes made to the portfolio. Jim says he took a new position in Starwood Hotels (HOT) and others. Newslook
VIDEO: THE DAY IN MONEYOnce-a-year portfolio rebalancing more than enough | 02:31
Rebalancing a portfolio once a year is more than enough because the point is to manage risk not widely outperform a benchmark, said Judith Ward, senior financial planner at T. Rowe Price. The Street
VIDEO: THE DAY IN MONEYHow Marissa Mayer measures Katie Couric’s ROI | 04:30
Yahoo’s CEO explains what her long-term plan was when she brought on the TV news anchor. Time
VIDEO: THE DAY IN MONEYWhy everybody was against the Comcast deal | 02:44
Fortune’s Michal Lev-Ram breaks down why the Comcast-Time Warner Cable merger failed. Time
VIDEO: THE DAY IN MONEYIs the death of packaged food on the way? | 01:24
Fortune’s Beth Kowitt discusses the changing landscape of grocery shopping and the impact it has on pre-packaged food. Time
VIDEO: THE DAY IN MONEYDon’t subscribe to clothing styling services without watching this | 01:27
Matt Granite shows you how to get the most out of personal wardrobe shopping websites. VPC
VIDEO: THE DAY IN MONEY10 CEOs make $14.2B from market rally | 01:11
Ten CEOs of companies in the Standard & Poor’s 500, including most notably Jeff Bezos of Amazon.com but also Mark Zuckerberg of Facebook and Lawrence Page of Google scored paper gains of 14B. Wochit
VIDEO: THE DAY IN MONEYProtesters target McDonald’s headquarters | 00:40
Hundreds of protesters calling for $15 an hour marched to McDonald’s headquarters in Oak Brook, IL ahead of the company’s annual shareholder meeting. (May 20) AP
VIDEO: THE DAY IN MONEYCrews continue California oil spill cleanup | 01:00
Workers and volunteers continued to clean up an estimated 21,000 gallons of oil that leaked into the Pacific Ocean and onto beaches north of Santa Barbara. An oil pipeline ruptured Tuesday May 19. Video by Robert Hanashiro, USA TODAY Robert Hanashiro, USA TODAY
VIDEO: THE DAY IN MONEYHackers are targeting financial controllers | 01:24
FireEye, a California-based computer security company, has offices worldwide that track attacks and intrusions. USA Today’s Elizabeth Weise recently visited its Singapore offices, where she learned that bank attacks are on the rise. Elizabeth Weise
VIDEO: THE DAY IN MONEYWhich online shaving club trims costs and faces the best | 04:39
Watch master barbers put popular razors to the test to find out which gives the best shave while saving you money. VPC
VIDEO: THE DAY IN MONEYBaggage Battle: Fight for Overhead Bin Space | 01:50
Ever since airlines instituted fees in 2008 for checked bags, passengers have tried anything to avoid paying the extra for a flight. That usually means stuffing everything possible into a carry-on bag that won’t fit into cramped overhead bins. (May AP
VIDEO: THE DAY IN MONEYTakata air bags recall sends shares tumbling | 02:09
Takata airbags are believed to be the cause of five deaths in the U.S. The faulty airbags can launch shrapnel at dangerous speeds if deployed. Time
VIDEO: THE DAY IN MONEY$211M Settlement With Rig Owner in Gulf Spill | 01:04
Plaintiffs in the 2010 Gulf oil spill have reached a $211 million settlement with the owner of the rig involved in the environmental disaster. USA TODAY
VIDEO: THE DAY IN MONEYUS, Britain fine six banks nearly $6 bn for forex, Libor abuses | 01:13
US and British regulators fined six major global banks nearly $6 billion Wednesday for rigging the foreign exchange market and Libor interest rates. Duration: 01:14 Video provided by AFP Newslook
VIDEO: THE DAY IN MONEYTop Ten Keys for Stocks | America’s Markets | 02:39
Americas Markets pays tribute to David Letterman with it’s own top ten list. Adam Shell gives us the top ten keys for stocks. Michael Monday
VIDEO: THE DAY IN MONEYTop 5 .sucks domain names for sale | 02:03
Trademark holders have until the end of May before someone else has the right to buy their name with the unflattering domain. Time
VIDEO: THE DAY IN MONEYChobani is planning an all-out assault on Greek yogurt foes this summer | 03:44
An influx of Greek yogurt into supermarket aisles from General Mills and Dannon has sent execs at category king Chobani off to find new ways for people to consume its brand. Their solution may be a retail operation of their own. Newslook
VIDEO: THE DAY IN MONEY8 Fastest-growing Companies Make You Rich | 01:20
What are the fastest-growing big companies? It’s not just a trivia question. You can score big gains from knowing the answer. There are eight stocks in the Standard & Poor’s 500, including specialty drugmaker Actavis, homebuilder DR Horton, and Wochit
VIDEO: THE DAY IN MONEYMexico, Canada not happy with U.S. cattle labeling rule | 01:32
Consumer advocates are pushing for meat labels that list where animals are born, raised and slaughtered. Mexico and Canada argue the rule violates international trade laws. VPC
VIDEO: THE DAY IN MONEYMemorial Day travel do’s and don’ts | 01:01
Memorial Day weekend provides plenty of opportunity both for fun and for travel headaches. Lindsey Granger has tips to keep you on track while you bring in the warm weather. Buzz60
VIDEO: THE DAY IN MONEYUBS agrees to pay $545M fine | 00:54
Swiss banking giant UBS agreed Wednesday to pay $545 million to settle a probe by U.S. authorities into its role in manipulating interest and currency rates. In a statement, the bank said it agreed to plead guilty to one count of wire fraud. Wochit
VIDEO: THE DAY IN MONEY3 biotech companies to add to your portfolio | 01:23
Driven by the demand for effective treatments and new cures, biotech is one of the hottest investment areas today. There has even been speculation of a biotech bubble. Newslook
VIDEO: THE DAY IN MONEYPainting lawns green big business in drought-stricken Calif. | 01:46
Landscapers are finding no shortage of orders when it comes to homeowners wanting to paint their lawns green in drought-stricken areas of California. VPC
VIDEO: THE DAY IN MONEYBlue Bell recall melts to massive layoffs | 00:52
Blue Bell announced it will close 14 distribution centers and lay off 1,400 employees, which amounts to 37 percent of their workforce. The cutbacks stem from Blue Bell stopping production and recalling all of its products due to a listeria outbreak. VPC
VIDEO: THE DAY IN MONEY7 stocks that will take you for a wild ride | 02:32
USA Today’s Matt Krantz looks at 7 of the most volitile stocks in the market that have taken investors for a wild ride in this edition of America’s Markets.
VIDEO: THE DAY IN MONEYGreenback’s gain complicates global business | 02:31
The U.S. dollar’s gain, for some, is causing pain. Its strength is adding problems for U.S. exporters and is giving a lift to importers. The wild currency fluctuations seen recently around the globe are leaving many wary of what might come next. (Ma AP
VIDEO: THE DAY IN MONEYLuxury trip around the world on a private jet only costs $117,000 | 01:08
Abercrombie & Kent says it already sold out its tour that takes guests around the world on a private jet. Mara Montalbano (@maramontalbano) shows us what we’ll be missing. Buzz60
VIDEO: THE DAY IN MONEYWhy Consumer Reports says Tesla’s new $127k car is ‘undriveable’ | 00:52
The company’s high-end Model S is already drawing criticism, before reviewers even get behind the wheel. Mainly, because they can’t. Time
VIDEO: THE DAY IN MONEYBad news expected for Walmart, other retailers | 01:27
USA Today’s Matt Krantz discusses the bleak outlook for retail stocks this week in this edition of America’s Markets. USA TODAY
VIDEO: THE DAY IN MONEY3 hotels, resorts & cruise lines to invest in now | 01:30
Hotels, resorts, and cruises can be risky investments, but there are still companies in the industry that can be good buys. With the economy doing better, people have more disposable income to spend on luxuries. The Street
VIDEO: THE DAY IN MONEYStem cell ‘Wild West’ amid lack of regulation | 03:10
The number of stem cell clinics across the U.S. has surged. There are high hopes that the cells will lead to major medical advances, but critics say entrepreneurs are treating patients with little or no evidence that what they do is effective. AP
VIDEO: THE DAY IN MONEYAirlines to carry record numbers this summer | 01:10
A record number of travelers are expected to take to the skies this summer thanks to a rebounding economy. (May 18) AP
VIDEO: THE DAY IN MONEYThe most popular stores in America | 02:27
Douglas McIntyre of 24/7 Wall Street talks about the stores visited most in America. Michael Monday
VIDEO: THE DAY IN MONEYWhat to watch in the week ahead | 01:18
For the week of May 18, we outline the key earnings reports and economic data to keep an eye on. It’s another action packed line-up on the earnings front. Newslook
VIDEO: THE DAY IN MONEYApple’s Tim Cook tells grads to ignore critics | 01:57
Speaking at The George Washington University’s commencement ceremony, Apple CEO Tim Cook warned new graduates against sitting on the sidelines and listening to cynics. VPC
VIDEO: THE DAY IN MONEYWould Mad Men’s Joan Harris make Fortune’s MPW list? | 01:09
The show’s head writers debate whether or not the commanding character would score a spot on the Most Powerful Women list. Time
VIDEO: THE DAY IN MONEYFlotilla protests Shell oil rig in Seattle | 01:37
Environmental activists in kayaks and boats launched in Elliott Bay on Saturday afternoon for another protest over Shell’s giant Arctic oil drilling rig. KING
VIDEO: THE DAY IN MONEYHow ride-share services are killing taxi cabs | 02:12
Gary Karczewski, 65, is veteran Chicago cab driver that has seen the value of his taxi medallion plummet dramatically over the last two years, and it seems like ride-sharing companies are to blame. VPC
Last VideoNext Video
Craft Brewers Choosing to Stay Small, Local
Costco earnings, housing data: what to watch on Wall Street May 27
Twitter, Flipboard deal could chip away at Facebook’s Empire
IRS says thieves stole tax info from 100,000
Workday tumbles despite earnings
Ford takes on North African market by opening offices in Morocco
5 things to know about the Time Warner Cable/Charter deal
Charter buying Time Warner Cable for $55.3B
3 ad agencies to buy now
Android Auto comes to Hyundai Sonata
$28,000 Compact SUV Challenge
Jim Cramer says own Ebay as a way to play its split with Paypal
Foot locker reports better-than earnings on sales growth
Deere tops estimates despite 30% drop in profit amid lower demand
Campbell soup shares Rise as profit tops estimates, revenue misses
Netflix, ZS Pharma get price target hikes; gap is losing relevance
Raw: Court Frees Korean Air ‘Nut Rage’ Executive
Know Right Now: California Governor Declares State of Emergency After Oil Spill
Here are the three things your boss never wants to hear you say
Will Shopify go the way of Etsy? | Americas Markets
Transocean leads S&P 500 to record; McDonald’s pressures Dow
What’s coming to Netflix in June?
Jim Cramer adds Starwood hotels Stock to action alerts plus
Once-a-year portfolio rebalancing more than enough
How Marissa Mayer measures Katie Couric’s ROI
Why everybody was against the Comcast deal
Is the death of packaged food on the way?
Don’t subscribe to clothing styling services without watching this
10 CEOs make $14.2B from market rally
Protesters target McDonald’s headquarters
Crews continue California oil spill cleanup
Hackers are targeting financial controllers
Which online shaving club trims costs and faces the best
Baggage Battle: Fight for Overhead Bin Space
Takata air bags recall sends shares tumbling
$211M Settlement With Rig Owner in Gulf Spill
US, Britain fine six banks nearly $6 bn for forex, Libor abuses
Top Ten Keys for Stocks | America’s Markets
Top 5 .sucks domain names for sale
Chobani is planning an all-out assault on Greek yogurt foes this summer
8 Fastest-growing Companies Make You Rich
Mexico, Canada not happy with U.S. cattle labeling rule
Memorial Day travel do’s and don’ts
UBS agrees to pay $545M fine
3 biotech companies to add to your portfolio
Painting lawns green big business in drought-stricken Calif.
Blue Bell recall melts to massive layoffs
7 stocks that will take you for a wild ride
Greenback’s gain complicates global business
Luxury trip around the world on a private jet only costs $117,000
Why Consumer Reports says Tesla’s new $127k car is ‘undriveable’
Bad news expected for Walmart, other retailers
3 hotels, resorts & cruise lines to invest in now
Stem cell ‘Wild West’ amid lack of regulation
Airlines to carry record numbers this summer
The most popular stores in America
What to watch in the week ahead
Apple’s Tim Cook tells grads to ignore critics
Would Mad Men’s Joan Harris make Fortune’s MPW list?
Flotilla protests Shell oil rig in Seattle
How ride-share services are killing taxi cabs
Stocks rebounded Wednesday as the Dow jumped more than 100 points in afternoon trading a day after the blue-chip index suffered its worst loss of May.
Read or Share this story: http://usat.ly/1Hw7gq5
This entry passed through the Full-Text RSS service – if this is your content and you’re reading it on someone else’s site, please read the FAQ at fivefilters.org/content-only/faq.php#publishers.
Source:: Usatoday Money