MARKET WRAP: US and European Stocks Recover Losses

European markets closed mostly green, passing the momentum to US markets. 


  • The S&P 500 Index jumped 2.7 percent as of 10:38 a.m. New York time.
  • The Dow Jones Industrial Average gained 600 points, and the Nasdaq 100 rose 3.4 percent.
  • The Stoxx Europe 600 Index gained 2 percent to the highest levl in more than 14 day on the biggest advance in a week.
  • Germany’s DAX Index soared 1.8 percent to the highest in two weeks on the biggest jump in more than a month.
  • The MSCI Asia Pacific Index dropped 0.2 percent.
  • The MSCI Emerging Market Index gained 0.9 percent, the biggest advance in a week.
  • The Dollar Spot Index increased 0.3 percent.
  • The euro dropped 0.4 percent to $1.1353.
  • The British pound was flat at $1.2626.
  • West Texas Intermediate crude soared 2.3 percent to $48.16 a barrel, marking the highest level in more than two weeks, five days of advance.
  • Gold futures dropped 0.8 percent to $1,284.60 an ounce, the first drop in more than a week and the biggest dip in two weeks.