U.S. Stocks Open Solidly Higher as Tensions In Hong Kong Ease
Wednesday, 4 September 2019 20:47 WIB |
MARKET UPDATE |S & P 500Saham AS
U.S. stocks opened in rebound mode Wednesday, joining a global equity rally that analysts tied to Hong Kong's decision to withdraw an extradition bill that sparked months of protests.
The Dow Jones Industrial Average rose 205 points, or 0.8%, to 26,323, while the S&P 500 was 21 points higher, up 0.8%, at 2,927. The Nasdaq Composite advanced 78 points, or 1%, to 7,952.
Analysts also tied support to an upbeat read on services sector activity in China. The Caixin China services purchasing managers index rose to 52.1 in August from 51.6 in July -- a reading above 50 indicates growth in activity.
Stocks sold off Tuesday, pressured by concerns surrounding the escalation of the U.S.-China trade war and a downbeat reading from the Institute for Supply Management's August manufacturing index, which indicated activity in the sector contracted for the first time since 2016.
Source : Market Watch