US STOCKS-Wall Street rallies as battered investors eye support

jueves 25 de febrero de 2016 17:37 GYT
 

* Durable goods orders rebound strongly in Jan

* Salesforce.com up after raising revenue forecast

* Dow closes up 1.29 pct, S&P up 1.13 pct, Nasdaq up 0.87 pct (Updates to close)

By Noel Randewich

Feb 25 (Reuters) - Wall Street posted solid gains on Thursday as higher oil prices reduced fears that banks could be hit by debt defaults and investors saw opportunities after weeks of volatility.

The second uptick in two days for stocks was helped by a 3-percent jump in oil, which has been a major influence on markets this year as investors view weak energy demand as a sign of sluggish global growth.

The S&P 500 has recovered 6 percent in the past nine sessions but remains down almost 5 percent in 2016 as oil hovers near decade lows.

For the first time this year, the S&P 500 exceeded its 50-day moving average, a move that some investors believe is a sign of improving sentiment.

"I have a lot of people calling me and saying 'Hey, I've got $50,000 in the bank earning zero percent. Is it time to put it to work?'," said Jake Dollarhide, chief executive of Longbow Asset Management in Tulsa.   Continuación...