Late Rebound Pares U.S. Market Losses; Investors Look to Yellen Remarks Tonight to Clarify Fed View of Global Economy
Late buying helped trim deep losses for stocks Thursday, although it was still not enough to keep the U.S. markets from posting their fifth down day in the six sessions since the Federal Reserve last week decided to keep interest rates unchanged near zero. More worries over global growth sent shares sharply lower again heading out of the gate but a moderate rebound for crude oil prices carried energy stocks higher while investor hopes that remarks by Fed Chair Janet Yellen later this afternoon at an academic conference could bring more clarity to her post-FOMC statements from last week.
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