Dow climbs 350 points as investors weigh economic-reopening prospects
US stocksrose Wednesday as investors looked to positive signs around economic reopenings from coronavirus-induced shutdowns.
- Retailers continued to release earnings, with Lowe's gaining and Target declining after premarket reports.
- Oil rose ahead of a key report due Wednesday from the US Energy Information Administration.
- Read more on Business Insider.
- S&P 500: 2,963.69, up 1.4%
- Dow Jones industrial average: 24,544.60, up 1.4% (338 points)
- Nasdaq composite: 9,328.54, up 1.6%
Read more: The investment chief of a $12 billion wealth management firm breaks down how to build the perfect portfolio using just 7 ETFs — one designed to sidestep a dramatically 'overvalued' stock marketInvestors watched a round of retail earnings before the bell Wednesday that showed that consumers have taken to home improvement and shifted to shopping online amid sweeping lockdowns.
West Texas Intermediate crude gained roughly 1%, to $32.78 per barrel. International benchmark Brent crude gained 3.1%, to $35.73 per barrel, at intraday highs. Later Wednesday, the US Energy Information Administration report that will show the weekly change in stock is due. Further, the Federal Reserve will release minutes from its April 28 and 29 meeting at 2 p.m. ET.
Read more: John Fedro quit his job and got involved in real estate with barely any money. He breaks down his low-cost approach to mobile-home investing, which allows him to live comfortably on passive income.Read the original article on Business Insider
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