Stock market gains as energy sector powers advance; tech selloff weighs on Nasdaq

U.S. stocks rose Tuesday, buoyed by strong gains in the energy sector as the overall market attempted to reclaim some ground lost the previous day as tech stocks suffered a sharp selloff.

The Dow Jones Industrial Average advanced 119 points, or 0.5%, to 24,730, with shares of components Boeing Co. and Caterpillar Inc. helping lift the blue-chip gauge.

The Nasdaq Composite Index was little changed at 7,346. The S&P 500 index was up 2 points, or 0.1%, at 2,715, with the energy sector, up 1.5%, helping buoy the broad-market index.

Source: Marketwatch

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China Stocks Advance as Banks and Developers Offset Trade Woes

Chinese stocks rise for a third day, with rallies by banks and developers offsetting concern about a global trade war as White House economic adviser Gary Cohn resigns and the Trump administration is said to consider broad curbs on China imports.

Shanghai Composite Index rises 0.3% as of 10:45am local time, taking gain this week to 1.4%

ChiNext Index falls 0.2%, trimming week’s advance to 1.2%

Hang Seng Index swings between gain of 0.5% and loss of 0.6%; the gauge is experiencing wildest trading since 2016. Hang Seng China Enterprises Index +0.3%

China Construction Bank +2.2%, ICBC +1.9%, Bank of China +1.2%. Bank of Ningbo +3.8%, China Merchants Bank +2.9%, Bank of Nanjing +2.7%, among best performers on CSI 300 Index

Source : Bloomberg

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European Stocks Extend Rebound as Italian Shares Advance

European stocks rise in a broad rally, following global peers higher, with equity traders focusing on corporate updates amid fading concerns over political uncertainty in Italy and the prospect of a global trade war.

The Stoxx 600 advances 0.8%, as Italy’s FTSE MIB erases its post-election loss to trade 1.1% higher. Smurfit Kappa soars 19% after the company rejected an unsolicited takeover proposal from International Paper Company. Just Eat drops 14% after the company’s plans for 2018 investments exceeded some analysts’ estimates.

Source: Bloomberg

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