How the Dow Jones industrial average fared on Tuesday

The Standard & Poor’s 500 index added 21.90 points, or 1.1 per cent, to 1,951.70.

The Nasdaq composite index gained 66.18 points, or 1.5 per cent, to 4,570.61.

The market gained support from official data released before the opening showing an encouraging 4.9 percent rebound in durable goods orders in the United States manufacturing sector in January, and new unemployment claims that rose last week but remained in the low range of the past year.

Baker Hughes rose 3.2 percent while Halliburton, which announced it would slash 5,000 more jobs, rose 0.1 percent.

Europe’s FTSEurofirst 300 .FTEU3 was due a rebound having lost nearly 4 percent since Tuesday and it came through as solid company results from Seadrill SDRL.OL and British bank Lloyds LLOY.L helped it claw back just over 1.3 percent.

The S&P 500 is down 122.67 points, or 6 per cent.

The Nasdaq is down 425.21 points, or 8.5 percent.

The main indexes were on track to finish the week higher for a second week in a row. Energy weighed and was the only sector to hold a bit lower. He also attributed the recent market volatility to traders factoring in all at once policymakers’ projections for four hikes in 2016.

Dealers said there were also signs of downward pressure building on the euro despite a tick up in lending data ahead of next month’s European Central Bank meeting, at which rate setters are widely expected to cut rates again.

Oil prices continued to rally Thursday, with both USA oil and Brent crude jumping over 2 percent. He said that the market should instead let some operators go out of business.

Adding to the more positive tone on Friday was data that showed the fourth-quarter USA economic slowdown was less severe than previously estimated. “But people continue to be anxious about low commodity prices and there is general unease that has lingered from how the markets started this year”, said David Kelly, chief investment strategist at J.P. Morgan Funds.

Britain’s FTSE 100 (.FTSE) was seen opening up by 1.3 percent.

Haven assets declined. The yield on the 10-year Treasury note rose to 1.771% from 1.699% Thursday as prices fell.

The Nasdaq down 0.85 points, or less than 0.1 percent.

The dollar rose to 112.05 yen from 111.97 yen in the previous day’s trading.