Stocks Bounced Back Amid Positive Jobs Data

U.S. stocks rebounded from the prior session’s steep selloff on Wednesday after promising U.S. jobs data. The Dow Jones Industrial Average rose 78.18 points, or 0.61%, to 12,837.33. The S&P 500 rose 9.27 points, or 0.69%, to 1,352.63. The Nasdaq Composite gained 25.37 points, or 0.87%, to 2,935.69.

U.S. private-employment growth is picking up, according to data released Wednesday that showed payrolls rose in February for the 25th month. Private-sector payrolls increased 216,000 on the month, led by the service-providing sector and small businesses, according to the February labor-market report from payrolls-processor Automatic Data Processing Inc. Over the last three months, gains have averaged 223,000, compared with a monthly average of 156,000 for 2011.

Federal Reserve officials are considering a novel approach to bond buying aimed at countering some of the worry that another round of asset purchases by the U.S. central bank could fuel inflation, according to the Wall Street Journal.

Apple Inc. debuted a new version of its iPad tablet on Wednesday, featuring a high-definition screen, faster processor and 4G network connectivity on some models, with prices starting at the same level as the current devices.

General Dynamics’ (NYSE:GD) board on Wednesday hiked the quarterly dividend by 8.5% to 51 cents a share from 47 cents. The dividend will be paid on May 11 to shareholders of record on April 13.

The Treasury Department announced Wednesday that it has launched an offering of $6 billion of its American International Group Inc. (NYSE:AIG) common stock.

Chrysler is recalling nearly 210,000 Jeep Liberty sport utility vehicles due to potential problems resulting from excessive corrosion that could lead to a loss of control by the driver.