NEW YORK (AP) — U.S. and global stocks rose in midday trading Monday after a gloomy jobs report last week led investors to expect that the Federal Reserve will postpone its first interest rate increase in nearly a decade. Energy stocks rose along with the price of oil.
The U.S. Coast Guard on Monday said its crews had found a body and an empty, heavily damaged lifeboat in their search for the cargo ship El Faro, assumed to have sunk off the Bahamas in towering waves and howling winds whipped up by Hurricane Joaquin. "We're assuming the vessel has sunk," Coast Guard Captain Mark Fedor told reporters in Miami. Coast Guard vessels and aircrews continued to search, however, for the missing crew - 28 U.S. citizens and five Polish nationals - but Fedor acknowledged they had faced tough odds in the storm's dangerous conditions.