Stocks bounce back on good economic news – Chicago Tribune- About: Stock Trading News
Wall Street ended a volatile week with a moderate rebound Friday after better-than-expected economic data at least temporarily eased the worries of investors concerned about housing and the financial sector. A day after a sharp drop in existing-home sales aided in pushing stocks sharply lower, economic news helped buoy the market on Friday. The Commerce Department reported that factory orders for big-ticket manufactured goods, such as cars, appliances and machinery, rose by 0. Linda Duessel, equity market strategist at Federated Investors, said economic figures such as the durable-goods numbers are important because they reveal continued demand from abroad, which could help U. The stock market’s volatility during the week—rallying Tuesday and Wednesday only to erase those gains Thursday—illustrates tentativeness behind some of the bets investors are making, said Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors. read more
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