Markets

Wall Street Snaps Back to Near Flat on Rebound in Oil, Technical Support

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Stocks swung back into positive territory before dipping near even towards Thursday's close in concert with a rebound in oil, while steep losses in component stock Apple ( AAPL ) continued to weigh on the Nasdaq Composite Index.

Equities reacted negatively at the open to a 14-month high in initial jobless claims and pressure on oil futures, and continued to retreat until the Dow Jones Industrial Average and S&P 500 both found solid support at their respective 50-day moving averages. The two indices corrected off their lows but lost the bulk of their gains into the close.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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