According to an AFP report, the New York stock market closed higher on Wednesday, led by the Nasdaq index and encouraging corporate results, after falling the day before due to tensions with China.
- Dow Jones rose by 1.29% and rose to 32,812.50 points.
- The Nasdaq, an index largely dominated by technology stocks, rose 2.59% to 12,668.16.
- The S&P 500 rose 1.56% to 4,155.17 points.
According to analysts at Schwab, stocks “gained momentum on better-than-expected earnings and economic data.”
Cresset Capital’s Jack Ablin made a similar comment, saying many companies’ results were “better than expected.”
In addition, he said recent comments by US central bankers “suggest that they are trying to pre-focus their rate hikes on trying to control inflation.”
“But this is based on the idea that overnight rates are likely to peak in January-February and be lower for the rest of the year,” an analyst told AFP, adding confidence to investors.
Source: Hot News RO
Anna White is a journalist at 247 News Reel, where she writes on world news and current events. She is known for her insightful analysis and compelling storytelling. Anna’s articles have been widely read and shared, earning her a reputation as a talented and respected journalist. She delivers in-depth and accurate understanding of the world’s most pressing issues.