Stocks rise immediately after oil rebound, Nasdaq nears dot-com bubble highs … – Chronicle Bulletin

NEW YORK — Stocks had been moving greater Friday as oil prices recovered from their decline the previous day. Strong earnings from Olive Garden owner Darden Restaurants and Nike also helped lift the marketplace. The Nasdaq composite index was close to reaching the all-time higher it set at the height of the dot-com&nbspbubble.

Keeping SCORE: The Dow rose 168.62 points, or .9 percent, to 18,127.65. The Typical &amp Poor's 500 index added 18.83 points, or .9 percent, to two,108.10. The Nasdaq composite rose 34.04 points, or .7 percent, to&nbsp5,026.42.

The Nasdaq came close to the record high of five,048 it set in March 2000. It has taken the Nasdaq additional than 15 years to recover from the dot-com bubble, although the S&ampP 500 and Dow recovered their losses in 2007 and 2006,&nbsprespectively.

Energy: Immediately after dropping extra than 3 % Thursday, crude oil rose $ 1.76, or four percent, to $ 45.72 a&nbspbarrel.

Power stocks rose far extra than the rest of the market place. The S&ampP 500's power sector gained just about 2&nbsppercent.

EARNINGS: Nike jumped nearly 4 percent right after reporting quarterly final results that beat&nbspexpectations.

MALL MERGER: Simon Property Group raised its buyout supply for competitor Macerich to $ 95.50, but Simon said it was their "best and final give." Simon House rose five percent though Macerich fell a lot more than four&nbsppercent.

Investors had expected Simon to raise its present extra, and expect Macerich to walk away from the&nbspdeal.

VOLATILITY: 4 instances a year, the stock industry experiences a surge of buying and promoting due to a phenomenon known as "quadruple witching," which is when four kinds of selections and futures expire all at as soon as, as they did on Friday. The phenomenon can lead to volume to rise sharply in the last hour of the trading&nbspday.

U.S. ECONOMY: Sentiment was dampened by information Thursday displaying that weekly applications for unemployment aid edged up final week. That came right after stocks surged Wednesday on news the Federal Reserve was in no hurry to raise ultra-low interest prices that have helped lift stock and bond&nbspprices.

CURRENCIES: The dollar fell to 120.17 yen from Thursday's 120.76 yen. The euro rose to $ 1.0811 from the previous day's&nbsp$ 1.0668.

BONDS: U.S. government bond costs rose. The yield on the ten-year Treasury note fell to 1.93 percent from 1.97 percent late&nbspThursday.

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