Wall Street rebounds to close higher

 20 May 2017 - 10:27

Wall Street rebounds to close higher
File Photo.


NEW YORK: Indexes on Wall Street recovered from a major slide to close higher Thursday.

The Dow added 56 points to finish the day at 20,663 and the S&P rose eight points to 2,365. 

The Nasdaq increased 43 points to end trading at 6,055. 

The markets on Wednesday suffered their worst single-day performances in months – sliding between 1.8 percent and 2.5 percent.

Investors took a buying position to profit from low stock prices set Wednesday, experts said, adding that a rise in crude prices also helped the recovery. 

At the final bell, American benchmark West Texas Intermediate traded at $49.33 while international benchmark Brent crude was at $52.49 – each with a 0.5 percent gain.

The Dow and the S&P lost around 18 percent to mark their single-day performance since Sept. 9. The Nasdaq shed 2.5 -- its biggest single-day decline since June.