Photo: Wikimedia Commons
Markets rebounded after a weak morning, including frightening Philly Fed data.First, the scoreboard:
- DOW up 0.37%
- S&P 500 up 0.61%
- NASDAQ up 0.76%
And now, the key stories:
- Chinese markets slipped overnight due to concerns over new tightening measures enacted by the government. Those rules prohibit some banks from lending to firms that intend to invest in real estate and other fixed assets.
- Major European indices ended higher, but the eurozone remained uncertain going into a meeting of the European Union’s leadership. The meeting’s results will include agreement on future bailouts, though that agreement is likely to not include more radical solutions like the eurobond.
- The U.S. market opened positive on improved jobless claims, but slid lower after Philly Fed data indicated input costs were rising at a rapid rate for businesses. Shares rebounded, however, as the day progressed.
- 4 arrests were made in connection with the insider trading probe. They are Walter Shimoon, Mark Longoria, Manosha Karunatilaka and James Fleishman. Check out the full details on the developing story here >
- Visa and MasterCard were hit late in the day by news the Fed is proposing new rules that will hit their earnings associated with swipe fees.
- RIMM earnings after the bell. Follow live coverage here >
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