Lola Evans
14 May 2022, 06:11 GMT+10
NEW YORK, New York - U.S. stocks were on the mend on Friday while the U.S. dollar rally cooled - but for how long remains unclear.
"It's a pretty bleak past couple of months, we're at or very close to bear market territory for just about every major index," Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia told Reuters news agency Friday.
"It's too early to tell whether we're approaching a bottom and at least stabilizing."
The technology sector stole the limelight Friday with the Nasdaq Composite surging 434.04 points or 3.82 percent to 11,805.00.
The Standard and Poor's 500 jumped 93.81 points or 2.39 percent to 4,023.89.
Lagging a little, the Dow Jones industrials still managed a 466.36 points or 1.47 percent gain to 12,196.66.
On foreign exchange markets the U.S. dollar edged back after its multi-month relentless rally. The euro clawed back a tiny portion of its recent losses to trade at 1.0398 around the New York close Friday.
The British pound edged up to 1.2236. The Swiss franc was little changed at 1.0028.
The Canadian dollar strengthened to 1.2922. The badly wounded Australian dollar firmed a touch to 0.6928. The New Zealand dollar edged up to 0.6268.
The Japanese yen meantime slipped to 129.35.
On overseas equity markets, the Dax in Germany surged 2.10 percent Friday. The Paris, France-based CAC 40 rebounded 2.52 percent. In London, the FTSE 100 advanced 2.55 percent.
In Tokyo, the Nikkei 225 advanced 678.93 points or 2.64 percent to 26,427.65.
The Australian All Ordinaries rallied 141.10 points or 1.97 percent, to close Friday at 7,307.70.
South Korea's Kospi Composite surged 54.16 points or 2.12 percent to 2,604.24.
In China, the Shanghai Composite gained 29.29 points or 0.96 percent to 3,084.28.
The Hang Seng in Hong Kong jumped 518.43 points or 2.68 percent to 19,898.77.
In New Zealand, the S&P/NZX 50 went against the trend, dipping 9.18 points or 0.08 percent to 11,168.18.
Get a daily dose of Hong Kong Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Hong Kong Herald.
More InformationBEIJING, China: China's Green Valley Pharmaceutical company has prematurely ended an FDA approved study on its GV-971 to treat mild ...
SAGAING, Myanmar - According to local sources, clashes erupted this week between a coalition of resistance forces and a 100-soldier ...
HONG KONG: Hong Kong chief administrator Carrie Lam has said that 'Chinese patriots' are now in charge of the city ...
New Delhi [India], May 16 (ANI): Indian boxers Nikhat Zareen and Manisha continued their brilliant forms to secure themselves medals ...
© Provided by Xinhua BEIJING, May 16 (Xinhua) -- Beijing reported 39 new locally transmitted COVID-19 infections between 3 p.m. ...
© Provided by Xinhua "Hate has no place in New York City ... We have to deal with the hate ...
ROME, Italy: Italy has announced plans to sell state-owned ITA Airways, the successor to Alitalia, by the end of June, ...
SYDNEY, NSW, Australia - Stocks struggled for direction in Asia on Monday. Early gains evaporated later in the data, although ...
BEIJING, China: China's Green Valley Pharmaceutical company has prematurely ended an FDA approved study on its GV-971 to treat mild ...
SILAO, Mexico: U.S. automaker General Motors (GM) has agreed to raise wages by 8.5 percent, following negotiations with a new, ...
ZAGREB, Croatia: Croatian lawmakers have voted to allow the introduction of the euro currency in 2023. Lawmakers voted 117-13 to ...
TEHRAN, Iran: Iran has abruptly raised prices as much as 300 percent for a variety of staple foods, including cooking ...