- The Dow Jones Industrial Average climbed 373.71 points, or 1.39%, to 27,202.18.
- S&P 500 added 21.52 points, or 0.65%, to 3,328.03.
- Nasdaq Composite put on 58.22 points, or 0.53%, to 10,999.39.
US benchmarks nevermind the deadlock in Congress and climbed on Wednesday on investor optimism despite worsening prospects of a v-shaped recover on-shore.
The Dow Jones Industrial Average climbed 373.71 points, or 1.39%, to 27,202.18, the S&P 500 added 21.52 points, or 0.65%, to 3,328.03 and the Nasdaq Composite put on 58.22 points, or 0.53%, to 10,999.39.
In corporate updates, there were surprise quarterly profits from Disney which sent Walt Disney Co’s DIS shares flying to put it among the biggest boosts to the S&P 5 and Dow.
The stock notched its biggest daily percentage gain since March 24 as declines for Disney parks and media networks were not as bad as feared.
Meanwhile, there have still not been any concrete reports of what the anticipated fiscal package will contain with the Democrats and Republicans at odds over extending the supplementary USD600/week unemployment support.
Meanwhile, the July ADP job gains of 167k were much lower than expected (+1.2m) and indicated a sudden halt to re-hiring as result of renewed restrictions in the US.
It is a concern and increases pressure for additional fiscal measures. This print will affect expectations for non-farm payrolls on Friday, but confidence in the ADPs signal may be coming under scrutiny given two huge revisions to data for May and June,
analysts at ANZ bank explained.
S&P 500 levels
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