U.S. stocks rise amid economic data

0 Comment(s)Print E-mail Xinhua, October 7, 2021
Adjust font size:

NEW YORK, Oct. 6 (Xinhua) -- U.S. stocks reversed earlier losses to finish higher on Wednesday as investors digested a slew of economic data.

The Dow Jones Industrial Average rose 102.32 points, or 0.30 percent, to close at 34,416.99. The S&P 500 increased 17.83 points, or 0.41 percent, to 4,363.55. The Nasdaq Composite Index was up 68.08 points, or 0.47 percent, to 14,501.91.

Earlier in the session, all the three major indexes traded lower, with the Dow dropping more than 400 points at the lows.

Eight of the 11 primary S&P 500 sectors ended in green, with utilities up 1.53 percent, outpacing the rest. Energy slipped 1.05 percent, the worst-performing group.

U.S.-listed Chinese companies traded mostly higher with six of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.

The above moves came after data showed U.S. private sector payrolls increased more than expected last month.

U.S. private sector employment increased by 568,000 in September, payroll data company Automatic Data Processing (ADP) reported Wednesday. Economists surveyed by The Wall Street Journal had expected a gain of 425,000 jobs.

The ADP report came two days before the crucial monthly employment report to be released by the Labor Department's Bureau of Labor Statistics, which will include employment data from both the private sector and the government.

U.S. equities have been in choppy trading this week, with the Dow closing up 312 points on Tuesday, following a nearly 324-point dip on Monday, as investors assessed headwinds and tailwinds on the market. Enditem

Follow China.org.cn on Twitter and Facebook to join the conversation.
ChinaNews App Download
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter