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Wall Street rebounds with positive day

Posted/updated on: December 7, 2017 at 4:03 pm
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JaysonPhotography/iStock/Thinkstock(NEW YORK) — After a few days of losses, Wall Street bounced back on Thursday as all three major indices finished in positive territory.

The Dow Jones Industrial Average gained 70.57, closing at 23,211.48.

The Nasdaq climbed half a percent, ending the session at 6,812.84, while the S&P 500 climbed to 2,636.98, a gain of 7.71 from its open.

The price of crude oil climbed again on Thursday. A barrel selling for $56.62 at the close, about 1.2 percent higher than when the market opened.

The Federal Reserve said Thursday that U.S. net worth climbed $1.7 trillion from July to September. The value of stock portfolios rose by $1.1 trillion in that time, while real estate values jumped $400 billion.

Freddie Mac says mortgage rates rose this week, another sign that the Federal Reserve could opt to raise interest rates next week.

And credit card use was a major reason for more consumer borrowing in October. That figure rose by $20.5 billion in October, the largest increase in nearly  a year.

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