NEW YORK —
The stock market is bouncing back, a day after suffering its second-worst loss this year.
The Dow Jones industrial average gained 71 points to close at 12,644 Friday.
JPMorgan Chase and other big banks helped lead indexes higher, even though Moody’s cut the credit ratings on JPMorgan and 14 other large banks after the market closed Thursday.
Moody’s had been warning it would make the move since early this year.
The Standard & Poor’s 500 rose 10 points to 1,335 and the Nasdaq composite climbed 33 points to 2,892. It was the first week of losses for the Dow and S&P 500 since the week of June 1.
Two stocks rose for every one that fell on the New York Stock Exchange. Trading volume was average at 3.8 billion.
Business
Related Photos
-
businessnews.jpg
Discussion
June 22, 2012
US stocks bounce back; big banks creep higher
- Business
-
-
A late fade on Wall Street; Wal-Mart, Disney slump
Signs of a slowing economy combined with comments from a Federal Reserve official helped pull the stock market down Thursday.
-
American will favor passengers without roller bags
If you’re traveling light, you can board earlier on American Airlines.
-
Bill would limit lawsuits over lead contamination
A Missouri-based lead mining company could be shielded from punitive damages in state lead contamination lawsuits under a bill sent to Gov. Jay Nixon.
-
Senate panel considers labor board nominees
Senate Republicans said Thursday they would not support five nominees to the National Labor Relations Board, raising the possibility the troubled agency could be rendered mostly inoperable later this year.
-
Missouri lawmakers pass changes to workers’ comp claims
Missouri lawmakers gave final approval Thursday to a measure that would double the fees charged to businesses in order to replenish an insolvent fund for disabled workers who suffer serious job-related injuries or illnesses.
-
Work could begin soon on new Interstate 44 interchange east of Joplin
Construction of a new interchange at Interstate 44 and Prigmore Avenue to serve the Crossroads Center Business and Distribution Park was added Thursday to the Transportation Improvement Program for Southwest Missouri.
-
Dow to appeal $1.2 billion damages order
A federal judge is ordering Dow Chemical Co. to pay $1.21 billion in damages after it lost a class-action lawsuit that accused it of conspiring to fix prices.
-
Weak open on Wall Street; Wal-Mart disappoints
Wal-Mart led the Dow Jones industrial average lower early Thursday after the world’s largest retailer turned in weaker sales and a dim forecast for profits.
-
Tennessee senator: Sale idea cost TVA $500 million
Sen. Lamar Alexander says President Barack Obama’s plan to consider selling the Tennessee Valley Authority has already cost hundreds of millions of dollars — even if the nation’s largest public utility is never sold.
-
Google’s products dig deeper into people’s lives
For Google CEO Larry Page, happiness is a warm computer.
- More Business Headlines
-
Raw: Accused US Spy Reportedly Leaves Russia
AP CEO: Records Seizure 'Unconstitutional'
Fatal Hot Air Balloon Accident in Turkey
Tornadoes, Storms Strike Midwest
'Babyland': Camp Lejeune's Toxic Legacy?
Raw: Heavy Tornado Damage in Shawnee, Okla
Probe Begins After Conn. Commuter Trains Crash
NTSB Begins Investigation Into Conn. Train Crash
Lotto Fever Sweeps the Country
Coffee Run Leads to Hatchet Hitchhiker Arrest
Fmr. IRS Head Insists No Politics in Targeting
CDC: Fecal Bacteria Common in Swimming Pools
Could Tobacco Be the Next Biofuel?
Wash. State Releases Draft Rules for Legal Pot
