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US Stocks Rally as Turkish Lira Steadies

Dow ends day up 112
By Newser Editors and Wire Services
Posted Aug 14, 2018 3:04 PM CDT
US Stocks Rally as Turkish Lira Steadies
Specialist Charles Boeddinghaus, left, and trader Gregory Wojtusiak work on the floor of the New York Stock Exchange, Tuesday, Aug. 14, 2018. Stocks are broadly higher and recovering some of their recent losses as concerns about Turkey's financial stability eased.   (AP Photo/Richard Drew)

(Newser) – US stocks rallied as banks, retailers, and smaller companies jumped. The gains Tuesday helped the market recover most of its losses over the previous two days, the AP reports. The Turkish lira steadied as officials from Turkey and the US said the countries are in talks to ease diplomatic tensions, which have resulted in tariffs on Turkish steel and aluminum. Stocks in emerging markets like Argentina, Russia and Brazil jumped. In the US, smaller companies rose more than the rest of the market. Several retailers rose after posting solid results. Advance Auto Parts rose 7.8%. The S&P 500 index rose 18 points, or 0.6%, to 2,839. The Dow Jones Industrial Average added 112 points, or 0.4%, to 25,299. The Nasdaq gained 51 points, or 0.7%, to 7,870. (Read more stock market stories.)

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