U.S. Stocks Rose as Worries Ease After Two-Day Brexit Selloff
Wednesday, 29 June 2016 03:15 WIB |
MARKET UPDATE |S & P 500Saham AS
U.S. stocks rose for the first time since Britain voted to leave the European Union, with the S&P 500 Index surging the most in nearly four months, amid optimism that policy makers are committed to limit the fallout from the U.K.’s exit.
Tuesday’s turnaround gathered pace late in the day, with the Dow Jones Industrial Average adding more than 260 points. Banks had the strongest rally in six weeks, after their worst two sessions in almost five years. Facebook Inc., Apple Inc. and Microsoft Corp rose at least 1.6 percent to boost the technology group, while energy producers climbed the most in 2 1/2 months as crude prices jumped.
The S&P 500 gained 1.8 percent to 2,036.07 at 4 p.m. in New York, the most since March 1, rebounding from its steepest two-day drop since August. Gains accelerated in the afternoon after the index pushed above its average price during past 200 days. The rally topped out near the 100-day moving average.
Source : Bloomberg