Stocks higher after Global Rally

Stock Market Update Wednesday, September 4th, 2019

Stocks rallied today, and the S&P finished with its best close since August 1st.

News from Asia helped today’s rally.

But this time it was news out of Hong Kong…Hong Kong agreed to withdraw a controversial extradition bill that resulted in months of protests.

The news helped the Hang Seng index rally 3.9% and was seen as a positive, although indirect development related to U.S.-China trade talks.

The major indices opened higher and then pulled back a little. But a late morning surge and afternoon rally helped stocks finish near highs of the day.

The NASDAQ led the way, with tech stocks like Micron Technology (MU – up 4.1%) helping today’s tech rally.

Here’s where the major indices ended the day:

  • The S&P finished with a 1.1% gain. Up 32 points, the S&P ended at 2,938.
  • The DOW ended higher by 0.9%. Adding 237 points, the DOW closed at 26,355.
  • The NASDAQ was up 1.3%. With a 103 point gain, the NASDAQ finished at 7,977.

Crude Oil (CL) bounced back after 3 consecutive losing days. With a 2.7% gain, CL ended at $55.40 a barrel.

There were some upsets in spite of today’s market rally.

American Eagle Outfitters (AEO) lost 11.6% after issuing disappointing guidance. And Tyson Foods (TSN) dropped 7.8%.

Here is the economic calendar for the week:

Real Time Economic Calendar provided by Investing.com.

This Stock Market Update was provided by Rockwell Trading Services LLC.

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