US stocks rebound despite firmer oil prices

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US stocks rebound despite firmer oil prices

NEW YORK, New York - U.S. stocks rebounded Thursday despite a firmer oil price and a continuing slide in Treasuries.

Buyers of technology stocks led the charge, pushing the Nasdaq Composite up 269.23 points, or 1.93 percent, to 14,191. The Dow Jones Industrial Average increased by 349.44 points, or 1.02 percent, to 34,707. The Standard and Poor's 500 rose by 63.92 points, or 1.43 percent, to 4,520. The U.S. dollar was on a recent rally Thursday. The sharp hawkish remark on Fed rate hike expectations has benefited the U.S. dollar against low yielding currencies whose domestic central banks are expected to lag well behind the Fed in tightening policy, according to MUFG currency analyst Lee Hardman, according to a note to clients on Thursday.

The Japanese yen was the worst performer with the currency dropping to a six-year low of 122.34 by the New York close Thursday.

The British pound was down to 1.3185. The Swiss franc went up to 0.9300.

The Australian dollar was further strengthened to 0.7510. Germany's Dax was down 0.07 percent on overseas equity markets. London's FTSE 100 gained 0.09 percent. The Paris-based CAC 40 fell 0.39 percent.

The Nikkei 225 in Japan rose 70.23 points or 0.25 percent to 28,110. The Australian All Ordinaries were up 4.00 points or 0.05 percent to 7,669. The S&P NZX 50 lost 43.39 points or 0.36 percent in New Zealand to 12,017. The Kospi Composite in Seoul, South Korea fell 5.39 points or 0.20 percent to 2,729. The Hang Seng in Hong Kong fell by 208.13 points or 0.94 percent to 21,945.