Stocks rise on Wall Street after 3 days of losses
Source: AP-Excite
By STEVE ROTHWELL
NEW YORK (AP) - Investors' jitters over emerging markets faded on Tuesday and U.S. stocks rose for the first time in four days.
Global stock markets stabilized after three turbulent days when investors grew worried about growth in China and other developing economies. The sell-off began last Thursday, when a survey for January showed that Chinese manufacturing was set to contract, dragging down stocks in Asia, Europe and the U.S. The slide continued on Friday as currencies in countries including Argentina and Turkey slumped. On Monday, Asian markets dropped, although the selling on Wall Street eased.
By Tuesday, though, global markets regained their calm. In the U.S., earnings gains from big companies, including Pfizer, Comcast and D.R. Horton helped lift stock indexes. One area of disappointment, though, was Apple, whose weak revenue forecast pushed its stock to the biggest one-day loss in a year.
The stock market has fallen 3 percent in January. In 2013 the market rose 5 percent in the first month, on its way to a 30 percent rise for the year, climbing to record levels.
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Trader Warren Meyers, center, works on the floor of the New York Stock Exchange Tuesday, Jan. 28, 2014. Stocks are higher in early trading on Wall Street as the stock market turns positive after three days of losses. (AP Photo/Richard Drew)
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