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US stocks bounce

 2015-11-17 04:39:09.0

images New York: �The US stocks rebounded strongly on oil recovery, following the terror attacks in Paris, as investors believed its impact on markets was limited.�The Dow Jones Industrial Average added 237.77 points (1.38 percent) to 17,483.01 on Monday, Xinhua reported.�The S&P 500 jumped 30.15 points (1.49 percent) to 2,053.19. The Nasdaq Composite Index gained 56.73 points (1.15 percent) to 4,984.62. The US equities gained momentum as oil prices recovered from an early dip. US Oil snapped a three-day losing streak to settle up nearly three percent on Monday. In response, the energy sector surged 3.25 percent as the biggest advancer in the S&P 500's ten sectors. On the US economic front, the November 2015 Empire State Manufacturing Survey indicates that business activity declined for a fourth consecutive month for New York manufacturers. The headline general business conditions index was little changed at minus 10.7. No other major economic data was due Monday. Investors awaited the meeting minutes from the Federal Open Market Committee (FOMC) due out later this week. Traders will look for hints on the timing of interest rate hikes from the US central bank. In corporate news, Marriott International has agreed to acquire Starwood Hotels and Resorts Worldwide in a cash and stock deal valued at $12.2 billion to create the world's largest hotel chain. Shares of Starwood, however, tumbled 3.63 percent to $72.27 apiece on Monday. Overseas, European stocks were little changed on Monday, with French benchmark index CAC 40 slightly down 0.08 percent, as investors digested the potential impact of the Paris attacks. (IANS)

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