United States stocks rally; Dow surges 669, clawing back lost ground

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Despite Nasdaq's rebound, Facebook declined for most of Monday as the social media powerhouse, with more than 2 billion monthly users, reeled from a crisis over data misuse, but climbed to break even for the day.

The 10-year Treasury yield climbed to 2.83%. The Dow tumbled 344.89 points, or 1.4 percent, to 23,857.71.

The major stock indexes appeared headed for more gains early Tuesday after their strong finish on Monday, but the rally didn't last. Prices dipped ahead of an anticipated rise in US weekly crude inventories tomorrow.

The S&P 500 rose 46 points, or 1.8 per cent, to 2,635. Wall Street was coming off its best day in more than two years following last week's steep slide. The Nasdaq added 29 points, or 0.4 percent, to 7,250. Higher yields are good for banks, because they drive up interest rates on mortgages and other loans, making them more profitable for lenders.

Technology companies recouped some of the sector's big losses last week. Investors had their eye on the latest company earnings and deal news.

USA -listed shares of British drugmaker GlaxoSmithKline rose 3.5 percent after the company agreed to buy out its Swiss partner Novartis in their consumer health joint venture. GlaxoSmithKline gained $1.30 to $38.73.

Linda Brown, Girl In Landmark Segregation Case, Dies Aged 76
Her death was announced on Monday by her sister Cheryl Brown Henderson in a statement to The Topeka Capital-Journal. Topeka's former Sumner School was all-white when Brown's father, Oliver, tried to enroll the family.

Benchmark U.S. crude fell 33 cents to settle at $65.55 per barrel on the New York Mercantile Exchange. Brent crude, used to price worldwide oils, gained 12 cents to $69.64. Today, it's little changed at 15768.89.

The Cboe Volatility Index (VIX - 22.50) finished 1.5 points, or 7%, higher.

Gold futures for April delivery gave back $13, or 1%, to close at $1,342 an ounce, snapping a four-day winning streak and pulling back from multi-week highs. Copper gained 3 cents to $3 a pound.

CURRENCIES: The dollar rose to 105.73 yen from 105.22 yen on Monday.

In Europe, Germany's DAX fell 0.8 percent, while France's CAC-40 lost 0.6 percent. The KBW Nasdaq Bank Index of large banks fell 2.8 percent.

In Asia, Japan's benchmark Nikkei 225 gained 2.7 percent. The stock eked out a gain of 67 cents, or 0.4 percent, to $160.06. Hong Kong's Hang Seng added 0.9 percent to 30,826.59, while the Shanghai Composite index rose 0.9 percent to 3,161.97. South Korea's Kospi edged up 0.5 percent to 2,448.42.

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