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U.S. stocks break losing streak

Wednesday, September 07, 2011 - 01:49

Sept. 7 - Summary of business headlines: U.S. stocks up across the board; Bank stocks recoup losses; Yahoo shares jump on CEO firing; Focus on Obama jobs speech; Darden stock falls on warning. Bobbi Rebell reports.

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PLEASE NOTE: THIS EDIT CONTAINS 4:3 MATERIAL Wall Street jumped back on Wednesday. Stocks rallied after a German court rejected lawsuits aimed at blocking the country from joining bailout efforts to ease the debt crisis in Europe. Shares of bank stocks moved higher after sharp losses in the previous session. Bank of America stock rose after a management shakeup at the lender. Another winner in the days trading: shares of Yahoo. The company ousted outspoken CEO Carol Bartz, and investors are optimistic positive changes could be in the works. Markets are also focusing on President Obama's jobs speech - scheduled for Thursday evening. Rutgers University Public Policy Professor Bill Rodgers: SOUNDBITE: BILL RODGERS, PUBLIC POLICY PROFESSOR, RUTGERS UNIVERSITY (ENGLISH) SAYING: "He has to really prevent people feeling that he doesn't care. That he is ineffective. So he's gotta do that speech that is all about I feel your pain, from President Clinton. But then he also has to provide real options that can help to further accelerate the job creation and then third he is running for re-election now so he has to respond to the decline in approval ratings that he has seen. " Shares of Darden Restaurants, owner of a number of restaurant chains including Red Lobster, were hit hard. The company warned Hurricane Irene hurt its first quarter earnings. Crude oil posted the biggest one-day percentage gain in four weeks - on concerns of more stormy weather in the US Gulf of Mexico. Taking a look at the closing numbers - in the US stocks were up across the board They echoed a positive day over in Europe where the major indexes were higher as well. Bobbi Rebell, Reuters.

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U.S. stocks break losing streak

Wednesday, September 07, 2011 - 01:49