Dow Jones Stocks Tripping Over Their Feet

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The stock market broke two days of losses on Wednesday with solid gains as investors piled into shares of banks and energy companies. The Dow Jones industrial average climbed 0.6 percent to 18,281.03.

"Oil prices hit US$ 50, bond yields hit 1.7% highest in last 6 months & US$ hit 96.17 new 3 month highs as probability of Fed rate hike in USA grew to 72%.This in turn saw commodities rise with emerging market indices also rising in tandem & the Brazilian 'Ibovespa" hitting new 52 week highs.

Oct 4 The S&P 500 index and the Dow fell in choppy trading on Tuesday, but Apple helped the Nasdaq stay in positive territory.

Investors took that as a sign that the Federal Reserve is more likely to raise rates from super-low levels this year, and pushed yields on government bonds higher. It was last up 0.2 percent at $1,270.80.

A report earlier in the day showed USA manufacturing picking up. A report earlier in the day showed U.S. manufacturing picking up. The Standard and Poor's 500 Index fell 7.07 points, or 0.3%, to close at 2,161.20 in the first session of the fourth quarter.

Asian stocks posted modest gains and the dollar strengthened further against the yen Thursday as a healthy USA economic report and rising oil prices overnight bolstered investor optimism.

Investors had been buying high-dividend stocks like utilities and phone and real estate companies as an alternative source of income to bonds, but are now having second thoughts as yields rise.

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SEOUL, South Korea - Asian stock markets were mostly lower on Wednesday as comments from Federal Reserve officials strengthened expectations of a rate hike by the Fed within this year. The Nasdaq composite declined 0.2 percent to 5,300.87.

Federal Realty Investment trust lost 5.85 dollars, or almost 4%, to 148.08 dollars, one of the biggest declines in the S&P 500. USA benchmark crude oil futures shed 30 cents to $49.53 a barrel in electronic trading on the New York Mercantile Exchange. Equivalent yields in Italy rose 6 bps to 1.32 percent.

Chicago Fed President Charles Evans said he would be "fine" with raising USA interest rates by year-end if United States economic data remained firm. The euro was up 0.2 percent at $1.1220 and the yen was up 0.1 percent at 102.82 per dollar.

Precious and industrial metals prices closed lower.

In energy trading, Brent crude, the global standard, rose 70 cents to close at $50.89 a barrel in London.

In other energy trading, wholesale gasoline slipped 1 cent to $1.49 a gallon, heating oil rose 3 cents to $1.58 a gallon and natural gas rose 8 cents to $3.041 per 1,000 cubic feet.