Big storms averted in stocks

The Washington Post Sunday - - MARKETS -

The Stan­dard & Poor’s 500-stock in­dex re­bounded from a loss of more than 2.5 per­cent Mon­day af­ter Glen­core roiled glob­al­mar­kets and a 1.6 per­cent re­treat Fri­day fol­low­ing a monthly U.S. jobs re­port. In­dus­tries from biotech­nol­ogy to raw­ma­te­ri­als bounced back af­ter hit­ting lows for the year.

Stocks had tum­bled to­ward the lows of Au­gust’s sell-off, when the S&P 500 en­tered its first cor­rec­tion in four years. The S&P 500 ended the week with a 1 per­cent gain to 1951.36. The Dow Jones in­dus­trial av­er­age added 157.70 points, or 1 per­cent, to 16,472.37.

“A lot of the ner­vous money has al­ready left the mar­ket,” said “Bucky” Hell­wig, who helps man­age $17 bil­lion at BB&T Wealth Man­age­ment. “If there was any day you could make the case for the mar­ket go­ing down, it’s on the Fri­day of a weak em­ploy­ment re­port, but the mar­ket sta­bi­lized and that’s en­cour­ag­ing.”

U.S. eq­ui­ties have see­sawed be­tween gains and losses since Au­gust’s sell-off, as in­vestors wres­tle with con­cerns about a slow­ing global econ­omy and con­fu­sion over the Fed­eral Re­serve’s plans for higher in­ter­est rates.

The U.S. Trea­sury will sell $21 bil­lion in both three-month bills and six-month bills Mon­day. They yielded 0.005 per­cent and 0.07 per­cent in when-is­sued trad­ing. The Trea­sury will also sell four-week bills and $24 bil­lion in three-year notes Tues­day, $21 bil­lion in 10year notes Wed­nes­day, and $13 bil­lion in 30-year bonds Thurs­day.

Editor’s note: Go­ing for­ward, our weekly com­pos­ite stock list­ing high­lights com­pa­nies based in Washington or with a strong pres­ence here. The rest of the ta­ble shows firms as ranked by mar­ket cap­i­tal­iza­tion. And we’ve added year-to-date data be­cause read­ers told us it would be use­ful.

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