NAV - Dow Leaps as Hong Kong Tensions Ease
Stocks rose sharply on Wednesday as tensions in Hong Kong eased after the withdrawal of a controversial bill, easing tensions between the government and protesters.
The Dow Jones Industrial Average regained 155.65 points to 26,273.67
The S&P 500 recouped 21.04 points to 2,927.31
The NASDAQ Composite picked up 73.66 points to 7,974.82.
Navistar was among the firms reporting earnings Wednesday, and its stock hiked $1.69, or 7.7%, to $23.55.
Hong Kong leader Carrie Lam said that she will withdraw a contentious extradition bill that has sparked months of mass protests. The Hang Seng index in Hong Kong had soared around 4% on reports overnight that the withdrawal of the bill was imminent.
The bill's withdrawal is seen as a positive because protest escalation was seen as a potential disruptor to the global economy. Some investors feared the protests could hinder U.S.-China trade talks
Prices for the benchmark 10-year U.S. Treasury faded, raising yields to 1.48% from Tuesday's 1.47%. Treasury prices and yields move in opposite directions
Oil prices improved $1.70 to $55.64 U.S. a barrel.
Gold prices dropped $1.80 to $1,554.10 U.S. an ounce.