Overview
- The Dow Jones Industrial Average rose 319.10 points to 48,382.39, snapping a five-session slide.
- The Nasdaq Composite fell for a fifth straight day, edging down 6.36 points to 23,235.63 as tech shares stayed weak.
- Buying focused on beaten-down names after recent declines, reflecting investors’ search for perceived bargains.
- Expectations that the next Federal Reserve chair will favor aggressive monetary easing supported risk appetite.
- In New York FX trading, the dollar bought ¥156.81–91, leaving the yen about 13 sen weaker than on Dec. 31.