“Stocks snapped back for their first gain in three days, with health-care, industrials and materials shares leading the charge,” Jonathan Cheng reports for The Wall Street Journal. “The Dow Jones Industrial Average advanced 61.66 points, or 0.5%, to 13390.51, with Boeing bouncing back to lead Dow components. The Standard & Poor’s 500-stock index added 3.87 points, or 0.3%, to 1461.02, while the Nasdaq Composite Index advanced 14 points, or 0.45%, to 3105.81.”
“European markets traded broadly higher. The Stoxx Europe 600 gained 0.7% to its highest level in nearly two years, and the U.K.’s FTSE 100 added 0.7% to its highest closing value since May 2008. In Asia, Japan’s Nikkei Stock Average climbed 0.7%, with a decline in the yen helping underpin exporter shares, and Australia’s S&P/ASX 200 added 0.4%,” Cheng reports. “In other corporate news, Clearwire advanced 21 cents, or 7.2%, to 3.13, after the wireless-broadband company received an unsolicited buyout bid from Dish Network that would value the company at about $4.85 billion, topping an earlier offer from Sprint Nextel. Dish rose 88 cents, or 2.5%, to 36.85, while Sprint pulled back nine cents, or 1.5%, to 5.88.”
Cheng reports, “Apple lost $8.21, or 1.6%, to $517.10, after The Wall Street Journal reported the technology company was working on a less-expensive version of the iPhone amid increased competition.”
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