Wednesday, 1 November 2017

US markets opened higher amid economic optimism

US markets opened higher on Wednesday, as financial and energy companies led broad gains across industries.

The rise came amid a slew of corporate earnings reports and additional signs of economic strengthening.

The Dow Jones Industrial Average climbed 107 points, or 0.46%, to 23,485, while the S&P 500 rose 11 points to 2,586.

The technology-focused Nasdaq Composite jumped 25.3 points, or 0.4%, to 6,752.9.

The rise in early trade extended gains from the previous session, when consumer confidence and strong home sales boosted markets.
The case for an improving economy was further bolstered on Wednesday, when ADP published a stronger-than-expected estimate of job creation in October.

Analysts said the estimate that US payrolls grew by more than 250,000 boded well for the official figure due on Friday and should keep the Federal Reserve on track to raise interest rates once more this year.

BBC      News.