Stocks in New York rebounded yesterday from Thursday's steep sell-off as new economic data showing slower-than-expected growth helped calm fears about rising inflation and higher interest rates.
At the close of trading on Wall Street, the Dow Jones industrial average was up 92.81, or by 0.9 per cent, at 10,559.74.
The blue-chip index rose as much as 122 points in afternoon trading.
On Thursday, the Dow plunged more than 235 points, or by 2.2 per cent. Advancing issues outnumbered decliners by a two-to-one margin on the New York Stock Exchange, with 1,964 up, 975 down and 584 unchanged.
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The NYSE composite index rose 8.24 to 622.26, and the American Stock Exchange composite index rose 4.35 to 778.74.
