原文標題：
Dow rallies 400 points as investors cheer strong U.S. economic data, earnings
原文連結：https://ibit.ly/g7PH
發布時間：2022/08/03 1:38 EDT
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原文內容：
U.S. stocks rallied Wednesday, reversing losses from earlier in the week as
traders cheered better-than-expected economic data that slowed down the idea
that a recession is inevitable.
The Dow Jones Industrial Average rose 438 points, or 1.35%. The S&P 500
gained 1.61%, hitting its highest level since June and wiping out losses from
earlier in the week. The Nasdaq Composite increased 2.32%, boosted by rising
tech stocks.
Earnings season continued, giving investors hope that the market can recover.
Moderna surged more than 16% and CVS Health gained over 5% after reporting
earnings beats.
Comments from St. Louis Federal Reserve President James Bullard also boosted
sentiment. He told CNBC Wednesday morning that he doesn’t think the U.S. is
currently in a recession, and that rate hikes to tame high inflation will
continue.
“We’re going to have to see convincing evidence across the board, headline
and other measures of core inflation, all coming down convincingly before we’
ll be able to feel like we’re doing our job,” Bullard said during a live “
Squawk Box” interview.
Better-than-expected economic data lifted stocks. The ISM non-manufacturing
purchasing managers index, released Wednesday, showed a surprise rebound.
“When we get a nice surprise like this it readjusts your thinking, so that’
s why I think the market is taking off,” said Kim Forrest, founder at Bokeh
Capital Partners, adding that every day investors are weighing if the U.S. is
in a recession. “This is just more information telling us that may
Traders shook off anxiety that House Speaker Nancy Pelosi’s visit to Taiwan
could further strain already tense U.S.-China relations. China had spent
weeks warning her not to make the trip.