US STOCKS rose yesterday, breaking a five-day losing streak as attention shifted from trouble in Chinese equities to US corporate earnings and speculation the first Federal Reserve interest rate hike may not come until December.
The Dow Jones industrial average rose 189.94 points, or 1.09 per cent, to 17,630.53, the S&P 500 gained 25.63 points, or 1.24 per cent, to 2,093.27 and the Nasdaq Composite added 49.43 points, or 0.98 per cent, to 5,089.21.
After the bell, Twitter jumped 5.2 per cent and Gilead Sciences rose three per cent after both companies posted their second-quarter results. Yelp slumped 13 per cent after its report. During yesterday’s session, SuperValu jumped 10.60 per cent. It said it was exploring a spinoff of its discount grocery chain Save-A-Lot into a publicly-traded company.
Advancing issues outnumbered declining ones on the NYSE by 2.7 to one.