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Dow claws back some losses, begins week with slight gains


June 15 (UPI) — U.S. stocks ended Monday with slight gains, rebounding from losses last week and sharp declines after the opening bell.

The Dow Jones Industrial Average closed up 157.62 points, or 0.62 percent, the S&P 500 climbed 0.83 percent and the Nasdaq Composite rose 1.43 percent.

Shortly after the opening bell, the Dow sank 600 points, the S&P 500 was down just a handful of points and the Nasdaq was up about 40 points.

Stocks turned around on Monday after the Federal Reserve announced it would expand its buying of corporate bonds to support credit for large employers.

Tech stocks, which had dragged the markets down after poor performances last week, rebounded and helped to push the major indexes higher on Monday.

Netflix stock climbed 1.78 percent, Facebook gained 1.71 percent, Apple increased 1.24 percent and Amazon rose 1.09 percent.

Bank stocks also rose on Monday as Bank of America stock increased 1.53 percent, Citigroup gained 1.46 percent, JPMorgan Chase climbed 1.41 percent and Wells Fargo gained 0.86 percent.

The Dow put together a second straight day of gains. It sank 1,800 points on Thursday but rebounded Friday with a near-500 point gain.


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