(Oct 7) Stocks open higher with Congress set to delay debt-ceiling showdown.
Dow jumps over 350 points and S&P 500 retakes perch at 4,400 in early Thursday action, a day before monthly jobs report.
The S&P 500 and Nasdaq 100 advanced, led by gains in big tech names including Apple Inc. and Facebook Inc. European equities rebounded, with the European Central Bank said to bestudyinga new bond-buying program as emergency programs are phased out. A bounce in Hong Kong-listedtechnology firmsboosted Asian stocks.
Markets have been buffeted in the past month by worries about the energy crisis, elevated inflation, reduced stimulus and slower growth. The prospect of adealto boost the U.S. debt limit into December is easing concern over political bickering, while Friday’s payrolls report may shed light on the the Federal Reserve’s timeline to cut bond purchases.
Oil extended its decline from a seven-year high as U.S. stockpiles grew more than expected, and European natural gas prices tumbled on signals from Russia it mayincrease suppliesto the continent. The yield on the U.S. 10-year Treasury note gained, the dollar was little changed and gold fell.
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