US stocks gain in midday trading, GM up on buyback

GMT 00:47 2015 Tuesday ,10 March

Arab Today, arab today US stocks gain in midday trading, GM up on buyback

Wall Street
New York - SPA

Stocks are rising after a big sell-off late last week as investors worried about higher interest rates.
The market had slumped on Friday after a strong jobs report boosted expectations that the Federal Reserve would raise rates this summer, AP reported.
General Motors gained 3 percent after announcing a $5 billion stock buyback to appease an activist investor.
The Standard & Poor's 500 index rose seven points, or 0.4 percent, to 2,078 as of 11:45 a.m. Eastern time Monday.
The Dow Jones industrial average climbed 138 points, or 0.8 percent, to 17,994. The Nasdaq composite rose six points, or 0.1 percent, to 4,933.
Bond prices rose, pushing yields lower. The yield on the 10-year Treasury note fell to 2.20 percent from 2.25 percent late Friday.


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