partlycloudy
Monday July 6th, 2015 6:15PM

US stocks bounce back after steep 2-day slide

By The Associated Press
NEW YORK - Strong earnings results from big U.S. companies offered investors a whiff of hope Friday. Stocks rose after a two-day slump, but remained on track for their worst week this year.

Hewlett-Packard drove the Dow Jones industrial average higher a day posting fiscal first-quarter earnings that beat the forecasts of analysts and the company itself. The results came as relief after months of bad news for the computer maker. Its stock rose $1.36, or 8 percent, to $18.46.

American International Group Inc. helped boost the Standard & Poor's 500 index after saying its fourth-quarter operating results exceeded forecasts. The company's net loss was $4 billion, mainly because of claims related to Superstorm Sandy, in the first full quarter after it finished repaying its $182 billion government bailout. Its stock rose $1.39, or 4 percent, to $38.67.

The Dow Jones industrial average was up 42 points at 13,922 in the first 45 minutes of trading. The Standard & Poor's 500 index rose six to 1,508. The Nasdaq composite index rose 14 to 3,145.

All three indexes remain down for the week. The S&P 500 is on track for its first weekly loss of the year.

Stocks plunged Wednesday afternoon after minutes from the Federal Reserve's latest policy meeting spooked investors. The minutes revealed disagreement at the Fed about how long to keep buying bonds in an effort to boost the economy. The slide continued Thursday.

Many analysts believe that the Fed's bond-buying and resulting low interest rates have driven this year's stock rally, which has lifted indexes to their highest levels since the 2008 financial crisis.

Among the other corporate news moving markets:

- Abercrombie & Fitch sank after a key sales metric declined in the all-important holiday quarter. Its stock fell $2.27, or 5 percent, to $46.78.

- WebMD Health Corp. soared after the health website operator reported better-than-expected revenue and an optimistic outlook for 2013. The stock rose $3.85, or 24 percent, to $20.15.
© Copyright 2015 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
S&P 500 index has its best year since 1997
The stock market closed out a record year with more all-time highs on Tuesday, giving U.S. indexes their biggest annual gains in almost two decades.
6:56PM ( 1 year ago )
Colorado readies for 'Green Wednesday' pot sales
Police were adding extra patrols around pot shops in eight Colorado towns that plan to allow recreational sales to anyone over 21 on Jan. 1.
1:52PM ( 1 year ago )
Kerry seeks framework for Mideast peace talks
A senior State Department official says Secretary of State John Kerry will try this week to get Israel and the Palestinians to agree on a framework for negotiating a final peace agreement, yet cautions against raising expectations for Kerry's latest round of shuttle diplomacy.
1:35PM ( 1 year ago )
U.S. News
Missing Ga. bank director arrested in Brunswick
A bank director accused of losing millions of investors' dollars before vanishing last year was arrested Tuesday during a traffic stop in a city in south Georgia.
7:00PM ( 1 year ago )
Amtrak to suspend some Crescent service in Jan., Feb.
Amtrak service will shut down in parts of the Southeast for several days in January and February for rail maintenance by Norfolk Southern Railway.
9:00AM ( 1 year ago )
Lung cancer scans urged for some smokers, not all
Certain current or former heavy smokers should start getting yearly scans for lung cancer to cut their risk of death from the nation's top cancer killer, government advisers said Monday - even as they stressed that the tests aren't for everyone.
7:26AM ( 1 year ago )
Business News
Sex offender held in Hall County for failing to register
A 47-year-old man was booked into the Hall County Jail Tuesday, being held without bond for allegedly failing to register as a sex offender, his second such arrest.
6:09PM ( 1 year ago )
Pharmacy robberies may involve same suspect
Oakwood Police Tuesday afternoon released details in a pharmacy robbery they're investigating, similar to one that happened in the Hall County Tuesday morning.
5:46PM ( 1 year ago )
Victim critical following apartment fire
A 41-year-old woman was in critical but stable condition Tuesday after being rescued from an apartment fire in Forsyth County late Monday afternoon.
3:16PM ( 1 year ago )
Local/State News
Greece enters uncharted territory after referendum 'no' vote
ATHENS, Greece (AP) — Greece lurched into uncharted territory and an uncertain future in Europe's common currency Sunday after voters overwhelmingly rejected demands by international creditors for mor...
7:06AM ( 11 hours ago )
Man shoots off firework from top of his head, dies instantly
CALAIS, Maine (AP) — A 22-year-old man who was drinking and celebrating the Fourth of July tried to launch a firework off the top of his head, killing him instantly, authorities said Sunday.Devon Stap...
8:41PM ( 21 hours ago )
Back at work: Congress facing busy agenda, funding deadline
WASHINGTON (AP) — Members of Congress return from July Fourth fireworks and parades Tuesday facing a daunting summer workload and an impending deadline to fund the government or risk a shutdown in the...
3:02PM ( 1 day ago )
Obama: Freedom is paid for by men and women of US military
WASHINGTON (AP) — President Barack Obama says U.S. service members make it possible to enjoy the "incredible blessings" in the greatest country on earth.He says "freedom is not free" but is paid for b...
12:45AM ( 1 day ago )
At least 14 hurt in deck collapse at North Carolina beach
EMERALD ISLE, N.C. (AP) — A deck collapsed at a North Carolina beach house as a family got set to take a group photo Saturday evening, leaving at least 14 people injured with two of those in critical...
11:58PM ( 1 day ago )