US STOCKS-Wall St rebounds with banks, energy; to snap 5-day fall

viernes 12 de febrero de 2016 16:30 GYT
 

* Financials' gains led by rebound in European banks

* U.S. oil settles up 12 pct on renewed talk of OPEC cut

* Indexes up: Dow 1.9 pct, S&P 1.9 pct, Nasdaq 1.7 pct (Updates to late afternoon)

By Caroline Valetkevitch

Feb 12 (Reuters) - U.S. stocks jumped on Friday, putting the S&P 500 on track to end a five-day losing streak, led by financial shares and gains in commodity-related shares.

U.S. oil prices settled 12.3 percent higher, boosting the energy sector up 2.2 percent. The materials sector was up 2.7 percent.

Investors snapped up beaten-down shares of financials. U.S.-listed shares of Deutsche Bank were up 11.3 percent at $17.27, while the S&P financial index rallied 3.8 percent.

"Europe was strong, especially the banks, and that appeared to have some positive carryover effect on banking stocks here in the U.S.," said John Carey, portfolio manager at Pioneer Investment Management in Boston, which has about $220 bln in assets under management.

Also helping boost sentiment, he said, was that U.S. consumer spending regained some strength in January.   Continuación...