BUSINESS US stocks close higher after steep sell-off in previous session

BUSINESS

US stocks close higher after steep sell-off in previous session

Xinhua

05:46, August 07, 2019

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(Photo: AP)

NEW YORK, Aug. 6 (Xinhua) -- US stocks closed higher on Tuesday, rebounding from a steep sell-off in the previous session.

The Dow Jones Industrial Average was up 311.78 points, or 1.21 percent, to 26,029.52. The S&P 500 rose 37.03 points, or 1.30 percent, to 2,881.77. The Nasdaq Composite Index rose 107.23 points, or 1.39 percent, to 7,833.27.

Some 10 of the 11 primary S&P 500 sectors ended the day at green territory. Technology and financials rose 1.61 percent and 1.51 percent, respectively, leading the gainers. Energy sector was the only laggard, losing 0.06 percent.

Trade bellwethers Caterpillar and Boeing increased 0.35 percent and 0.4 percent, respectively.

US equities suffered their worst day of the year on Monday as investors expected that President Donald Trump's threatened new tariffs on Chinese imports will worsen trade prospects and lead to a global economic slowdown, analysts said.

All three major indexes dropped substantially Monday -- the Dow erased 2.9 percent, the S&P 500 lost 2.98 percent, and the Nasdaq shed 3.47 percent. 


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