At the beginning of the Wall Street meeting on Wednesday, US stock futures pointed to a higher opening price.
The Dow Jones Index recommends an increase of 0.5%.
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On Tuesday, the Standard & Poor’s 500 Index rose 1.1%, ending a four-day losing streak when people were concerned about the pandemic and how the government would respond.
Federal Reserve Chairman Jerome Powell (Jerome Powell) urged Congress to provide more assistance to support the economic recovery, citing concerns about the continued impact of the epidemic.
Economically, research company IHS Markit will release its flash memory manufacturing and service PMI in September. The manufacturing industry is expected to remain stable from August, and the service industry will decline slightly. Recall that readings above 50 indicate that the field is expanding:
Powell and Mnuchin’s voice optimism adds to financial aid
In Asia, Tokyo’s Nikkei 225 Index fell 0.1
In Europe, London’s FTSE Index rose 1.5%, Germany’s DAX rose 1.4%, and France’s CAC rose 1.6%.
On Wall Street, the S&P 500 Index climbed 1.1% to 3,315.57 due to strong growth in technology and communications stocks and companies that rely on consumer spending. Banking, healthcare and energy stocks ended lower.
Concerned about the pandemic and the government’s response to the pandemic, the day after the stock market crashed, this rise helped the market make up for some of its losses.
|Me: DJI||Dow Jones Average||27,288.18||+140.48||+ 0.52%|
|SP500||S&P 500||3,315.57||+34.51||+ 1.05%|
|I: COMP||Nasdaq Composite Index||10963.636953||+184.84||+ 1.71%|
The Dow Jones Industrial Average rose 0.5% to 27,288.18. The Nasdaq Composite Index rose 1.7% to 10,963.64.
The long list of concerns that investors have caused volatility in the market. The reason is that the market is worried that the stock market will rise too high to the point that the US Congress has so far refused to provide more assistance to the troubled economy.
The Fed chairman urged Congress to take further economic assistance measures at the House Committee hearing on Tuesday, saying that the economy appears to be improving, but more government stimulus measures may still be needed. The additional weekly unemployment benefits and other stimulus measures approved by Congress in March have expired, so certain areas of the economy have slowed.
Other issues that investors worry about include the growing tensions between China and the United States, which could lead to China’s retaliation against American technology companies, as well as the upcoming U.S. election and all possible changes in tax policies and regulations.
According to the National Association of Realtors, sales of American homes that lived before August increased by 2.4%, reaching the highest level since 2006, and traders have also increased the stocks of homebuilders. Sales volume increased by 10.5% over the same period last year and returned to the level before COVID-19. The level of early 2020.
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In electronic trading on the New York Mercantile Exchange, US benchmark crude oil futures fell 10 cents to $39.70 per barrel. It rose 26 cents on Tuesday to 39.80 US dollars per barrel. Brent crude oil was flat at $41.69 per barrel.
The Associated Press contributed to this article.