Stocks Rally As Manufacturing Index Restores Confidence in Economy


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Stocks rallied and reversed nearly all of Wednesday's losses when a leading manufacturing index restored investor confidence in the U.S. economy. The Markit PMI preliminary index for February hit a four-year high, overshadowing a significant decline in the Philadelphia Fed index, disappointing Q4 results from Wal-Mart ( WMT ) and concerns surrounding the health of the global economy. Investors were also cheered by strong earnings from electric car maker Tesla ( TSLA ) and a $19 billion cash and stock bid for WhatsApp by social-media leader Facebook ( FB ).

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This article appears in: Investing Commodities
Referenced Stocks: WMT , TSLA , FB

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