While you were sleeping: Relief on China rate cut

Tue, 25 Aug 2015

By Margreet Dietz Aug. 26 (BusinessDesk) - Wall Street rose, rebounding from Monday’s sell-off, as investors reassessed valuations after China’s central bank cut rates yet again in an effort to contain the country’s economic slowdown. In late afternoon trading in New York, the Dow Jones Industrial Average climbed 1.3 percent, the Standard & Poor’s 500 Index advanced 1.8 percent, while the Nasdaq Composite Index rallied 2.5 percent. Gains in shares of Apple and those of UnitedHealth Group, last up 4.6 percent and 3.4 percent respectivel...

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