(Reuters) – Major Wall Street indices rallied Wednesday, led by industrial and tech stocks, although investors remained cautious after a tumultuous presidential debate that pointed to a tough campaign ahead.
Ten of the 11 major sectors of the S&P are trading in positive territory, and the energy sector was also the top gainer in early trading. Financial and energy stocks hit hard in September as investors fluctuated between growth-related sectors and undervalued stocks.
The S&P 500 may show its first monthly decline since the pandemic-triggered collapse in March. Trading has become more volatile in the past few weeks due to growing doubts that President Donald Trump will accept the election results if he is defeated.
“It is becoming increasingly likely that we will not have a clear winner on election night and we may have several weeks of a contentious period,” said Masahiko Loo, portfolio manager at AllianceBernstein.
By 17:40 Moscow time, the Dow Jones index rose 1.45% to 27.878.74 points, the S&P 500 index added 1.10% to 3.372.56 points, and the Nasdaq – 1.34% to 11.223.93 points.
(Devik Jain and Shreyashi Sanyal in Bangalore. Translated by Alexey Kuzmin. Editor Marina Bobrova)