Markets

US stocks rise, reversing early losses

NEW YORK : US stocks rose on Wednesday, rebounding from early losses and shaking off a Chinese interest rate hike and

Published July 6, 2011 Updated July 6, 2011 08:01pm

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By Shoaib Ur Rehman

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The Dow Jones Industrial Average gained 55.77 points (0.44 percent) to stand at 12,625.64 in closing trade.

The broader S&P 500 rose 1.34 points (0.10 percent) to 1,339.22, while the tech-heavy Nasdaq Composite was up 8.25 points (0.29 percent) to stand at 2,834.02.

Stocks fell in early trading after a Chinese interest rate hike raised expectations of slowing growth in the world's second-largest economy and as worries mounted about Europe's debt crisis.

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