US STOCKS-Wall St rebounds; Nasdaq breaks 7-day losing run

lunes 2 de mayo de 2016 16:43 GYT

* Apollo Education jumps on raised buyout offer

* ISM manufacturing activity index slips in March

* Indexes up: Dow 0.7 pct, S&P 0.8 pct, Nasdaq 0.9 pct (Updates to close)

By Caroline Valetkevitch

May 2 (Reuters) - U.S. stocks rose on Monday, rebounding from losses last week, as financials gained with Berkshire Hathaway and weakness in the dollar eased worries about earnings for multinationals.

The Nasdaq snapped a seven-session losing streak, though Apple fell for an eighth straight session, its longest run of losses since mid-1998.

Gains in consumer shares also lifted stocks, which on Friday had posted their largest weekly drop in more than two months. Amazon shares jumped 3.7 percent to $683.85, giving the S&P 500 and Nasdaq their biggest boosts, while both the consumer discretionary sector and staples gained more than 1 percent each.

The dollar index fell 0.5 percent and is down 6.1 percent for the year so far, a trend that should bode well for U.S. companies with a lot of overseas sales.

"It seems like the weak dollar superseded everything today, and we've got people coming in to buy stocks," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama. "The weaker dollar helps companies that do business abroad."   Continuación...