BUSINESS US stocks open higher, rebound from steep sell-off

BUSINESS

US stocks open higher, rebound from steep sell-off

Xinhua

00:04, February 27, 2020

NEW YORK, Feb. 26 (Xinhua) -- U.S. stocks opened higher on Wednesday, rebounding from a steep sell-off in the previous two sessions.

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Photo: AFP

Shortly after the opening bell, the Dow Jones Industrial Average increased 139.43 points, or 0.51 percent, to 27,220.79. The S&P 500 was up 21.25 points, or 0.68 percent, to 3,128.21. The Nasdaq Composite Index added 74.41 points, or 0.83 percent, to 9,040.02.

Most of the 30 Dow component companies traded in green territory, with Boeing and 3M adding 2.52 percent and 2.39 percent, respectively, leading the gainers.

Ten of the 11 primary S&P 500 sectors traded higher. Information technology and materials gained 1.19 percent and 0.93 percent, respectively, leading the advancers.

On data front, U.S. Commerce Department said on Wednesday that sales of new single-family houses last month were at a seasonally adjusted annual rate of 764,000, up 7.9 percent compared with the revised December number.

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