New York -- U.S. stock indexes rebounded as trading began Tuesday, in part on news that Citigroup would receive a multibillion cash infusion.
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The Dow Jones industrial average rose 52.18 points, or 0.4 percent, to 12,795.62 in morning trading Tuesday. The Standard & Poor's 500 added 5.44 points, 0.4 percent, to 1,412.66, while the Nasdaq composite index gained 18.84 points, 0.7 percent, to 2,559.83.
The investment arm of the Abu Dhabi government will invest roughly $7.5 billion in Citigroup, it was announced late Monday.
The three major indexes down sharply when the closing bell rang Monday. All were down more than 10 percent from their highs in October, the technical definition of a market "correction," The Wall Street Journal reported Tuesday.
In midmorning trading on the New York Stock Exchange, 1,995 stocks advanced and 687 declined.
The 10-year U.S. Treasury note lost $7.81 per $1000 invested to yield 3.940 percent.
The dollar was mixed overseas. The euro traded at $1.4871 from $1.4878 Monday, while the dollar was at 108.13 yen from 107.26 yen.
In Tokyo, the Nikkei 225 Average rose 0.58 percent to 15,222.85 points.
Copyright 2007 by United Press International.
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