Dow Jumps 125 in Rebound

But drugmakers slump on concerns of regulations
By Newser Editors and Wire Services
Posted Sep 21, 2015 3:20 PM CDT
Dow Jumps 125 in Rebound
In this Aug. 25, 2015 file photo, specialist Michael O'Mara works on the floor of the New York Stock Exchange, in New York.    (AP Photo/Richard Drew, File)

US stocks are closing higher as investors try to look beyond the uncertain timing of a possible interest rate increase by the Federal Reserve. The Dow Jones industrial average closed up 125 points, or 0.8%, to 16,510 today. The Standard & Poor's 500 index rose eight points, or 0.5%, to 1,966 and the Nasdaq composite gained one point, or less than 0.1%, to 4,840. Stocks were rebounding from sharp falls on Friday. Those declines were caused by concerns that the Fed's decision to keep interest rates at record lows signaled a weak outlook for global growth.

Drugmakers slumped on concern of new regulations to control pricing following comments from Democratic presidential front-runner Hillary Rodham Clinton. Bond prices fell, pushing up the yield on the 10-year benchmark Treasury note to 2.20% from 2.13% on Friday (More stocks stories.)

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