U.S. stocks open higher ahead of beige book release

0 Comment(s)Print E-mail Xinhua, September 4, 2019
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NEW YORK, Sept. 4 (Xinhua) -- U.S. stocks opened higher on Wednesday, paring losses from the previous session as investors awaited the release of U.S. central bank's latest beige book.

Shortly after the opening bell, the Dow Jones Industrial Average added 217.53 points, or 0.83 percent, to 26,335.55. The S&P 500 was up 23.52 points, or 0.81 percent, to 2,929.79. The Nasdaq Composite Index increased 74.13 points, or 0.94 percent, to 7,948.29.

All of the 11 primary S&P 500 sectors traded higher, with technology and materials sectors adding 1.27 percent and 1.19 percent respectively, leading the gainers.

The majority of the Dow component companies traded in green territory, with Intel and United Technologies being the top gainers.

The beige book is scheduled to be released by the Federal Reserve on Wednesday afternoon. It is a regular report of the U.S. central bank on current economic conditions across the 12 Federal Reserve Districts, based on information collected from various sources, including research reports and interviews with business contacts.

U.S. stocks closed lower on Tuesday on the latest development of U.S.-China trade relations as well as weak manufacturing data. Enditem

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