(MENAFN- Baystreet.ca) Dow Rockets By Close
The Dow Jones Industrial Average rebounded Wednesday after a string of negative trading sessions this September.
The blue-chip index popped 236.82 points to 34,814.39
The S&P 500 recovered 37.65 points to 4,480.70.
The NASDAQ Composite took flight 123.77 points to 15,161.53.
Energy stocks, which have been popular bets among investors banking on a big economic recovery, gained as WTI crude rose.
Rising U.S. Treasury yields helped lift bank stocks, with Citigroup up 2.4% and Morgan Stanley 1.1% higher. Higher interest rates typically boost bank profits.
Industrial names closely linked to the economic recovery also gained, with General Electric and Caterpillar higher.
Microsoft shares gained 1.7% after announcing a dividend increase and a sizable $60 billion share repurchase program.
Casino stocks like Las Vegas Sands and Wynn Resorts traded in the red again on Wednesday. Those names took a big hit Tuesday as the government of Macau looks to increase regulatory scrutiny over casinos and Chinese health authorities reported a COVID-19 outbreak.
Prices for 10-Year Treasurys fell, raising yields to 1.30% from Tuesday's 1.28%. Treasury prices and yields move in opposite directions.
Oil prices revived $2.20 to $72.66 U.S. a barrel.
Gold prices slipped $11.90 to $1,795.20 U.S. an ounce.
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