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U.S. stocks opened higher Friday as the International Energy Agency declared a bottom in oil prices, sending crude futures higher and lifting sentiment. Investors were continuing to asses the effect on U.S. equities of the European Central Bank’s stimulus measures announced Thursday. The S&P 500 opened 12 points, or 0.6%, higher at 2,002. The Dow Jones Industrial Average added 110 points, or 0.6%, to 17,101. Meanwhile, the Nasdaq Composite began the day up 45 points, or 1% at 4,706.

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The People’s Bank of China set its daily yuan reference rate at 6.4905 versus 6.5127 on Thursday, a 0.3% appreciation and the strongest fixing since Dec. 30, according to a Dow Jones Newswires report. The move shook up currencies trading, with the dollar recently trading 0.2% lower at 6.4982 yuan after falling as low as 6.4862. “The fix has come in largely as expected but the market has got a little bit excited,” said Sue Trinh, an RBC Capital Markets strategist, told Dow Jones Newswires. “It’s reacted by selling USD across the board.”

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

U.S. stock futures pointed to sharp gains for Wall Street on Friday, as oil prices pushed higher and Asian markets rose. Dow Jones Industrial Average futures jumped 133 points, or 0.8%, to 17,033, while S&P 500 futures gained 17.25 points, or 0.9%. to 1,997. Nasdaq 100 futures rose 47.50 points, or 1.1%, to 4,323.25. U.S. stocks closed little changed in volatile trading Thursday as investors brushed off fresh easing from the European Central Bank. But Asia stocks were broadly higher on Friday and crude oil rebounded, with U.S. crude up 85 cents, or 2.2%, to $38.69 a barrel. The dollar was pushing higher against the yen, trading at ¥113.56, rebounding from a one-week low of ¥112.64 late Thursday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Ben Carson will endorse Donald Trump for the Republican presidential nomination, reports said Thursday. The Washington Post and others said Carson will make his support formal on Friday morning at a news conference in Florida. Carson, a retired neurosurgeon, suspended his own campaign for the Republican nomination last week.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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WASHINGTON (MarketWatch) — Bulgarian authorities have arrested a Bulgarian man on charges of market manipulation in U.S. stocks including Avon Products. Nedko Nedev was charged with insider trading on an offer by a Bulgarian firm, Euroins Insurance, for Tower Group International, and for making sham offers for Rocky Mountain Chocolate Factory and Avon Products . The U.S. said it will seek extradition of Nedev. The Securities and Exchange Commissionhad previously laid out charges against Nedev.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Corvus Pharmaceuticals said late Thursday it expects to price its initial public offering between $15 and $17 a share in a filing with the Securities and Exchange Commission. Corvus expect to offer 4.7 million shares, with about 705,000 additional shares to cover overallotments, in an IPO that could fetch up to $92 million. The company said it will trade on the Nasdaq under the ticker “CRVS”.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News