NEW YORK, United States – Wall Street rebounded Friday from earlier losses on reports that US President Joe Biden will seek a huge tax hike, but Europe remained on the back foot despite bright economic data.
Wall Street’s main indices had ended Thursday down nearly one percent after the first reports broke of the possible hike that would cut into earnings made on selling stocks.
But after a mixed start on Friday, major indices pushed higher and finished with solid gains. The broad-based S&P 500 gained 1.1 percent.
“US markets appear to be recovering some of their equilibrium after yesterday’s losses, helped by strong economic data, from March new home…
Keep on reading: Wall Street shrugs off tax talk, Europe sputters