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 October 11, 2018 - 10:12 AM EDT
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Stocks rebound after Dow suffers 800-point tumble

Stocks rebound after Dow suffers 800-point tumble

Stocks rose on Thursday, erasing earlier losses, as weaker-than-expected inflation data sent interest rates lower. Rising rates were the culprit for an 800-point plunge on the Dow on Wednesday.

The Dow Jones Industrial Average eked higher 2.85 points to begin Thursday 25,601.59

The S&P 500 sank 1.61 points to 2,784.07

The NASDAQ regained 19.87 points to 7,441.92

Thursday's moves come a day after the Dow sank more than 800 points and the S&P 500 dropped more than 3%. It was also the 28th time since 2011 the much-broader index posted a more than 2% decline

A rebound in tech shares helped boost the major indexes on Thursday. Facebook, Alphabet and Apple all rose about 1%. Netflix, meanwhile, gained more than 2%.

Tech's bounce came after the U.S. government said the consumer price index rose 0.1% in September, well below the expected gain of 0.2%.

Prices for the benchmark for the 10-year U.S. Treasury gained ground, lowering yields to 3.18% from Wednesday's 3.20%. Treasury prices and yields move in opposite directions.

Oil prices surrendered $1.14 at $72.03 U.S. a barrel.

Gold prices added $17.60 to $1,211 U.S. an ounce.


Source: Livemoney (October 11, 2018 - 10:12 AM EDT)

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