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The Journal Gazette

Friday, February 22, 2013 4:50 pm

News Summary: US stocks rebound after 2-day slump

By The Associated Press

GOOD FOR BUSINESS: Strong earnings from big U.S. companies pushed the Dow Jones industrial average to a rare triple-digit gain Friday. Hewlett-Packard, Cabot Oil & Gas Corp. and American International Group Inc. all jumped after their earnings beat analysts' estimates.

WEAK WEEK: The S&P 500 index still posted its first weekly loss of the year. Spooked investors had sent stocks plunging Wednesday after minutes from the Federal Reserve's latest policy meeting revealed disagreement over how long to keep buying bonds in an effort to boost the economy.

EUR-UP: European stocks closed higher after a surprisingly strong survey of German business optimism added to evidence that the country will avoid a recession.