U.S. stocks rose on Wednesday, snapping a three-day losing streak for the S&P 500, as oil prices and bond yields retreated.
The Dow Jones Industrial Average rose by 645.47 points, or 1.31%, to close at 50,009.35. The S&P 500 rose 1.08% to 7,432.97, while the Nasdaq Composite added 1.54% to end at 26,270.36.
Investor sentiment improved after President Donald Trump said the administration was in the “final phase” of negotiations with Iran, according to an association report, SEEbiz reports.
“The market is coming off a really strong earnings season that brought positive revisions to earnings expectations, but concerns about inflation and the destruction of demand in the economy have proven persistent,” said Scott Helfstein, head of investment strategy at Global X ETFs. “It can be difficult to predict, but there are still many positive trends that can help drive the economy and markets.”
Investors will watch earnings from Walmart – America’s largest grocer and private employer – before the market close on Thursday, and then Workday after the market closes. Traders will also be watching economic data releases on jobless claims, housing and manufacturing due in the morning.
