Wall Street Rebounds Late After Stimulus Measures Outweigh China's Growth Concerns

Category: Markets / Finance / Mar 04, 2013 5:12PM EDT
Wall Street helped lift global stocks on Monday, turning around earlier losses after weak data concerned investors about China’s growth. Although growth concerns in China and spending cuts in the U.S. prompted initial caution, prospects that the Federal Reserve will continue stimulus measures offset concern as the Dow Jones Industrial Average hit its highest close since 2007. The Dow Jones Industrial Average DJIA closed up 38.16 points, or 0.27 percent, to 14,127.82. The S&P 500 Index SPX rose 7.00 points, or 0.46 percent, to close at 1,525.20. The Nasdaq Composite Index IXCI gained 12.29 points, or 0.39 percent, to close at 3,182.03.