Wednesday Stock Market Update
The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite gained on Wednesday, according to CNBC.
- The Dow Jones Industrial Average surged 454.84 points, or 1.59 percent, to close at 29,100.50.
- The S&P 500 gained 1.50 percent to close at 3,580.84.
- The Nasdaq Composite gained 1.0 percent to close at 12,056.44.
The Dow is only 2 percent from an all-time high despite disappointing payrolls data. ADP announced that US private payrolls grew by 428,000 in August. Economists expected a gain of 1.17 million.
Coca-Cola and IBM rose 4 percent and 3.9 percent, respectively. Apple fell 2 percent and Tesla fell 6 percent.
On Thursday keep an eye out for:
- Weekly jobless claims data.
- ISM non-manufacturing index data.
- France unveiled another massive stimulus package worth around 100 billion euros.
- Capgemini and Sofina are reporting earnings.
- Jobless claims came in below investor expectations.