U.S. and European Stocks See Increases After 4-Weeks of Downturn
Stocks have begun to rebound with the market opening higher on Monday than it has in over four weeks.
All three primary stocks have seen an increase. The Dow Jones industrial average rose 124 points, or 1.1 percent, to 10,942. A 4 percent drop last week had brought worries that the U.S economy was headed back to a recession.
The S&P 500 index has risen 12 points, or 1.1 percent, to 1,136 and the The Nasdaq has risen 28 points, or 1.2 percent, to 2,370.
Overseas markets have also seen a jump start Monday morning. Britain's FTSE 100 rose to 2.6 percent to 5,171, Germany's DAX rose 1.9 percent to 5,585, and France's CAC 40 rose 3.1 percent to 3,111.
Governments and businesses have been putting in efforts to ease the various debt crises that have been ravishing several countries as of late.
Britain's Royal Air Force confirmed its commitment to buy 14 Chinook helicopters for $1.6 billion, and this saw Boeing Co. rise 2.6 percent.
Lowes has also seen a 1 percent increase after the retailer committed to buying back up to $5 billion stock over the next two to three years.
Hewlett-Packard Co. saw a 5 percent increase, the highest increase of any Dow Jones stock.
Analysts however say that markets are not yet out of the woods and stocks will remain unstable for many weeks as most countries are still trying to sort out their debts.
"We are working our way through a difficult period of vicious volatility, a byproduct of a severe slowdown, coupled with credit problems worldwide and a lack of players, both of the leadership and portfolio variety. It is a nasty, bad period," RealMoney Contributor Jim Cramer wrote in a blog commentary.
The steadily increasing price of gold hit a high of $1,890 an ounce Monday morning, which could possibly foreshadow a double-dip recession.
As Libyan rebels seize the capital city Tripoli, Brent crude fell to $107 a barrel.
Many Asian markets also saw drops as they closed on Monday.
Japan's Nikkei 225 index dropped 1 percent and closed at 8,628.13, its lowest number in five months. South Korea's Kospi dropped 2 percent to 1,710.70.
The Shanghai Composite Index saw a 0.7 percent drop to 2,515.86 and Shenzhen Composite Index lost dropped 0.9 percent to 1,124.17. Hong Kong's Hang Seng however saw a 0.5 percent gain at 19,486.87.
