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 InformationFRANKFURT, Germany: The German Automobilwoche magazine has reported that as part of its efforts to switch to selling electric vehicles ...
BEIJING, China: Following the inability of China Huarong Asset Management Co Ltd to release financial reporting obligations in 2020, China ...
BERLIN, Germany: Germany will send a cabinet minister to visit Taiwan next week, at a time when Berlin is reviewing ...
TAIPEI, Taiwan: Reuters reported that after winning an order to manufacture wireless AirPods earphones for Apple for the first time, ...
WASHINGTON D.C.: The US government has charged exiled Chinese businessman Guo Wengui with being the mastermind behind a complex conspiracy ...
TAIPEI, Taiwan: The founder of chip manufacturer TSMC, Morris Chang, said that he supports the efforts of the US to ...
NEW YORK, New York - A hike in official U.S. interest rates of 0.25 percent, and a jump in inflation ...
SEATTLE, Washington: In a memo to staff sent this week, Amazon CEO Andy Jassy said the company plans to cut ...
DETROIT, Michigan: Due to leaking brake hoses and windshield wiper arms that can break off, Ford is recalling more than ...
NEW YORK, New York - Wall Street continued its advance on Tuesday as investors continued to weigh up the health ...
WASHINGTON D.C.: The US State Department has issued a travel warning regarding dangerous fake pills sold at pharmacies in Mexico, ...
FRANKFURT, Germany: The German Automobilwoche magazine has reported that as part of its efforts to switch to selling electric vehicles ...