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Empresas y finanzas

Stocks rebound on defensives and banks


    NEW YORK (Reuters) - Stocks turned higher on Friday, sending the Nasdaq up more than 1 percent, as investors snapped up defensive stocks including shares of biotechnology companies.

    * Financials led by banks were a top boost to the S&P 500, offsetting a drag from energy shares, as investors bet Friday's bleak report on November payrolls perhaps marked the worst of the news that the market had to contend with in the near term.

    * "We all knew that the jobs report was going to stink. It was just a matter of how bad it would be. There is a belief that perhaps we have seen the worst for many financial companies. They may not rally immediately but we may have set some bottoms," said Joe Kinahan, chief derivatives strategist at online brokerage thinkorswim Group in Chicago.

    * Nasdaq rises more than 1 percent; Dow and S&P 500 now about little changed after earlier slide of more than 3 percent.

    (Reporting by Ellis Mnyandu; Additional reporting by Doris Frankel; Editing by James Dalgleish)