(Reuters) – Major US stocks rose on Wednesday after falling the previous day following an order from President Donald Trump to end talks with Congress on aid to the economy.
All major sectors of the S&P were in positive territory, led by the commodity, financial, industrial and consumer sectors.
“The collapse of the stimulus talks threatens to strike another blow to the economy and halt an already slowed recovery,” said Art Hogan, chief market strategist at National Securities in New York.
“This could put pressure on the Fed to increase its bailout.”
By 17:41 Moscow time, the Dow Jones index rose 1.56% to 28.205.17 points, the S&P 500 index added 1.23% to 3.402.27 points, and the Nasdaq – 0.96% to 11.261.17 points. Levi Strauss & Co shares rose 9.9% amid plans to open new stores, contrary to analyst forecasts and despite the coronavirus pandemic.
Retailer Gap Inc (NYSE: GPS) gained 4.4%.
(Devik Jain and Sagarika Jaysingani in Bangalore, translated by Olga Devyatiarova. Edited by Anastasia Teterevleva)