The Dow Jones Industrial Average rose 0.3%, to 33,325.96 units, Meanwhile he S&P500 gained 0.3%, to 3,842.41 units. The Nasdaq added 0.4% to 10,390.41 units.
Apple and Microsoft advanced more than 0.6% eachwhile the return of US 10-year Treasury bonds fell to 3.83% from 3.86% on Tuesday.
Among the top S&P 500 sectors, tech and consumer discretionary gained nearly 0.5% and 1%, respectively, while Healthcare stocks were also a major boost to the benchmark.
Tesla climbed 5.3%, after touching its lowest level in more than two years in the previous session on concerns about demand in China. Still, the value has sunk 67% on the year.
The energy values deviated from the trend, since the Oil prices fell on concerns over rising COVID-19 cases in China, the top oil importer.
Beijing began rolling back its strict COVID measures in a sharp 180-degree turn this month, announcing on Monday that it would lift quarantine for travelers starting next month.
As markets enter the last leg of a grueling year for equities on fears of a recession due to the fastest pace of Federal Reserve rate hikes since the early 1980s, attention has shifted to 2023 and the outlook for corporate earnings.
The referential The S&P 500 is down 19% so far this year and is on the verge of posting its biggest annual loss since the 2008 financial crisis. The fall has been more severe for the Nasdaq Composite, which plummeted 34% in the same period.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
