U.S. stocks advance, following the biggest selloff in about a year for the Dow Jones Industrial Average, as JPMorgan Chase & Co. paced a rally in financial shares and government data showed a decline in jobless claims.
JPMorgan gained 2.5 percent after saying the Federal Reserve allowed its proposal to buy back as much as $3 billion in common equity during next yearâ€™s first quarter. Qualcomm Inc. (QCOM), the largest seller of mobile-phone semiconductors, climbed 7.5 percent after forecasting sales and profit that topped estimates. Activision Blizzard Inc. (ATVI), the largest U.S. video-game maker, jumped 1.1 percent as earnings beat forecasts.
The Standard & Poorâ€™s 500 Index rose 0.4 percent to 1,400.28 at 9:48 a.m. New York time. The Dow added 41.47 points, or 0.3 percent, to 12,974.20. Trading in S&P 500 companies was 13 percent above the 30-day average at this time of day.
- 1Payrolls Rise Less Than Forecast, U.S. Jobless Rate Steady
- 1Job growth seen accelerating, leaving Fed closer to hike
- 3Fed leave rates unchanged, FOMC Statement
- 4Retail Sales in U.S. Rise as Consumers Unshaken by Turmoil
- 3Forex : Depth Missing When Needed in $5.3 Trillion-a-Day Currency Market
- 3Oil Price Will Go Lower Than $20, Goldman Says
- 3Forex : Which Country WillÂ Devalue Their Currency Next?
- 3BOE Says Global Turmoil Hasnâ€™t Shaken Its Economic Outlook
- 3Australia Labour Force, Unemployment increased
- 3U.S. unemployment rate hits 5.1%, lowest in 7 years
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