MARKET FOCUS
U.S. stocks rebounded some on Wednesday, as the U.S. dollar regained some strength following an extended slide.
Precious metals sold off, which weighed on a number of currencies but bolstered the dollar. The U.S. currency had fallen to a record low against the euro at $1.3469 on Tuesday, lower than the prior all-time low set on Dec. 3 at $1.3460.
GE rallied on positive comments by a broker who had a positive outlook on the conglomerate’s earnings.
OUTLOOK
Labor data are back in focus after an outplacement firm reported that U.S. companies announced layoff plans that would affect 104,000 jobs in November. Weekly claims for unemployment insurance benefits have also backed up to the 350,000 level that is consistent with no better than moderate jobs growth.
THE NUMBERS
The Dow Jones Industrial Average gained 53 points, or 0.5 percent, to 10,494. The Nasdaq composite index added 11 points, or 0.5 percent, to 2,126 while the Nasdaq-100 index of large capitalization tech and biotech stocks ended up 0.7 percent at 1,601.
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