Press "Enter" to skip to content

Wall Street stocks climb Wiping off the Majority of the Week’s Losses

On Wall Street today, stocks gained widely, wiping up Week’s losses for most of the main indexes.The improvements come after the Federal Reserve hinted on Wednesday that it may begin reducing its extraordinary support measures for the economy later this year.

As of 12:45 p.m., the S&P 500 index was up 1.4 %. The Dow Jones Industrial Average increased by 557 points, or 1.6 percent, to 34,815 while the Nasdaq increased by one percent.Almost every stock in the S&P 500 index climbed. It is currently up 0.5 % for the Week’s, following a strong sell-off on Monday. The recovery is more obvious in the Dow, which is currently up 0.7 % for the Week’s after falling 1.9 % on Tuesday.

Oil prices have also risen as a result of the shift in market attitude. Because of today’s 1.6 % increase, benchmark US crude oil is now up 1% for the Week’s. Bond yields have risen significantly. The 10-year Treasury yield increased to 1.40 % from 1.32 % late Wednesday.Technology firms and banks paved the path to greater heights. Salesforce.com, a cloud-based software firm, stood out with a 6.3 % increase after boosting its sales estimate for the year. Citigroup increased by 4.3 %.

Small-company equities, which are generally a solid indicator of investor optimism about economic development, also moved into the winning column. The Russell 2000 is up 1.5 % today and 0.7% Week’s to date.Darden Restaurants, Olive Garden’s parent business, was another standout. Its shares increased by 6.3 % after reporting good quarterly earnings.

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *