US stocks recover modestly from big drop
Published 12:00 am Tuesday, February 4, 2014
The U.S. stock market is ending higher a day after suffering its biggest loss in more than seven months.
The Dow Jones industrial average rose 72.44 points, or 0.5 percent, to close at 15,445.24 Tuesday. The Standard & Poor’s 500 index climbed 13.31 points, or 0.8 percent, to 1,755.20. The Nasdaq composite gained 34.56 points, or 0.9 percent, to 4,031.52.
The market is creeping back from a 326-point drop in the Dow on Monday prompted by disappointing news about U.S. manufacturing.
Michael Kors jumped $13.24, or 17.3 percent, to $89.91 after the fashion retailer reported stronger earnings.
Yum! Brands jumped $5.90, or 9 percent, to $72.06 after the owner of KFC reported better-than-expected earnings late Monday. It also indicated it remains confident about its earnings growth forecast for the year.