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2021-10-02
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Wall Street rallies on first day of October, boosted by economic cheer
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Markets were not fixated today on new taxes or tapering,\" said David Carter, chief investment officer at Lenox Wealth Advisors in New York.</p>\n<p>\"In a shift from the past few weeks there's been no big news from Washington, so markets were forced to focus on positive economic data and a new COVID medication.\"</p>\n<p>Merck & Co Inc revealed that a recent study showed its experimental oral drug for COVID-19 cut risk of death and hospitalization by about 50%, sending its shares jumping and boosting economic reopening sentiment.</p>\n<p>While Biden signed into law a stop-gap bill to keep the government running through Dec. 3, lawmakers only succeeded in kicking the can down the road.</p>\n<p>This lack of resolution prompted rating agency Fitch to warn that the United States' 'AAA' credit rating could be at risk.</p>\n<p>\"Markets don't believe the debt will be downgraded or a debt ceiling deal won't be struck but it still adds uncertainty which is always a problem for the markets,\" Carter added.</p>\n<p>A host of economic data released on Friday showed increased consumer spending, accelerated factory activity and elevated inflation growth, which could help nudge the U.S. Federal Reserve toward shortening its timeline for tightening its accommodative monetary policy.</p>\n<p>Philadelphia Fed President Patrick Harker repeated his view expressed in a speech on Wednesday that he believes the central bank should begin tapering its asset purchases \"soon,\" but reiterated that he did not expect it to hike key interest rates until late next year or early 2023.</p>\n<p>Unofficially, the Dow Jones Industrial Average rose 488.73 points, or 1.44%, to 34,332.65, the S&P 500 gained 49.88 points, or 1.16%, to 4,357.42 and the Nasdaq Composite added 108.76 points, or 0.75%, to 14,557.34.</p>\n<p>All 11 major sectors in the S&P 500 ended higher, with healthcare stocks in the back of the pack.</p>\n<p>The sector's gains were capped by a drop in shares of COVID vaccine maker Moderna Inc in the wake of the Merck news.</p>\n<p>Economic optimism prompted value stocks to outperform growth, and transports and smallcaps to fare better than the broader market. (Reporting by Stephen Culp; Editing by Richard Chang)</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street rallies on first day of October, boosted by economic cheer</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street rallies on first day of October, boosted by economic cheer\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-02 04:00 GMT+8 <a href=https://finance.yahoo.com/news/us-stocks-wall-street-rallies-200044702.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Oct 1 (Reuters) - Wall Street stocks surged to a higher close on Friday, kicking off the fourth quarter in a buying mood boosted by positive economic data, progress in the battle against COVID, and ...</p>\n\n<a href=\"https://finance.yahoo.com/news/us-stocks-wall-street-rallies-200044702.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/us-stocks-wall-street-rallies-200044702.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2172631966","content_text":"Oct 1 (Reuters) - Wall Street stocks surged to a higher close on Friday, kicking off the fourth quarter in a buying mood boosted by positive economic data, progress in the battle against COVID, and Washington developments on the potential passage of an infrastructure bill.\nAll three major U.S. stock indexes oscillated earlier in the session, but began trending higher by late afternoon, led by economically sensitive cyclicals.\nThe rally gained momentum after the White House announced U.S. President Joe Biden was getting more involved in negotiations over the infrastructure spending bill being debated on Capitol Hill.\nEven so, all three indexes ended below last Friday's close, with the S&P 500 and the Nasdaq Composite posting their biggest weekly percentage drops since February.\n\"There was a broad based recovery today. Markets were not fixated today on new taxes or tapering,\" said David Carter, chief investment officer at Lenox Wealth Advisors in New York.\n\"In a shift from the past few weeks there's been no big news from Washington, so markets were forced to focus on positive economic data and a new COVID medication.\"\nMerck & Co Inc revealed that a recent study showed its experimental oral drug for COVID-19 cut risk of death and hospitalization by about 50%, sending its shares jumping and boosting economic reopening sentiment.\nWhile Biden signed into law a stop-gap bill to keep the government running through Dec. 3, lawmakers only succeeded in kicking the can down the road.\nThis lack of resolution prompted rating agency Fitch to warn that the United States' 'AAA' credit rating could be at risk.\n\"Markets don't believe the debt will be downgraded or a debt ceiling deal won't be struck but it still adds uncertainty which is always a problem for the markets,\" Carter added.\nA host of economic data released on Friday showed increased consumer spending, accelerated factory activity and elevated inflation growth, which could help nudge the U.S. Federal Reserve toward shortening its timeline for tightening its accommodative monetary policy.\nPhiladelphia Fed President Patrick Harker repeated his view expressed in a speech on Wednesday that he believes the central bank should begin tapering its asset purchases \"soon,\" but reiterated that he did not expect it to hike key interest rates until late next year or early 2023.\nUnofficially, the Dow Jones Industrial Average rose 488.73 points, or 1.44%, to 34,332.65, the S&P 500 gained 49.88 points, or 1.16%, to 4,357.42 and the Nasdaq Composite added 108.76 points, or 0.75%, to 14,557.34.\nAll 11 major sectors in the S&P 500 ended higher, with healthcare stocks in the back of the pack.\nThe sector's gains were capped by a drop in shares of COVID vaccine maker Moderna Inc in the wake of the Merck news.\nEconomic optimism prompted value stocks to outperform growth, and transports and smallcaps to fare better than the broader market. (Reporting by Stephen Culp; Editing by Richard Chang)","news_type":1},"isVote":1,"tweetType":1,"viewCount":1006,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":10,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/864472621"}
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