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Wednesday, February 24, 2021

US stocks rise, breaking a string of losses, as oil steadies

NEW YORK (AP) — The stock market is closing higher, ending a five-day losing streak, as investors cheered a slight upturn in the price of oil and hoped for more stimulus for Europe’s struggling economy.

The sharp drop in oil over the past six months has many worried that the global economy is slowing.

 

The Dow Jones industrial average rose 212 points, or 1.2 percent, to 17,584 Wednesday. The Dow has gained back about half the ground it lost over the first two days of the week.

 

The Standard & Poor’s 500 increased 23 points, also 1.2 percent, to 2,025. The Nasdaq composite rose 57 points, or 1.3 percent, to 4,650.

 

J.C. Penney soared 20 percent after reporting gains in holiday sales.

The yield on the 10-year Treasury note rose to 1.98 percent.

 

 

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

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