The Dow Jones Industrial Average, Nasdaq Composite, and S&P 500 posted gains on Wednesday.
- The Dow Jones Industrial Average gained 316.01 points or 0.90 percent, to close at 34,137.31.
- The S&P 500 gained 0.90 percent to close at 4,173.42.
- The Nasdaq Composite gained 1.20 percent to close at 13,950.22.
Stocks surged on the backs of cyclical names that rallied.
“It appears the economy is now well on its way to recovery. Still, earnings guidance early in the current reporting season appears to lean more conservative than our economic projections suggest,” said Scott Wren, Wells Fargo’s senior global market strategist.
On Thursday keep an eye out for:
- Initial Jobless Claims
- ECB Interest Rate Decision
- Johnson & Johnson, Intel, Pfizer AT&T, Texas Instruments, Lockheed Martin, Blackstone and others are reporting earnings.