China-Singapore Jingwei, September 8th. On Wednesday, Eastern Time, the three major U.S. stock markets closed up across the board.
The Dow rose 435.98 points, or 1.40%, to 31581.28 points; the Nasdaq rose 246.99 points to stop the "seven-straight decline", or 2.14%, to 11791.90; the S&P 500 rose 71.68 points, or 1.83%, to 3979.87 point.
Screenshot source: Wind
Large technology stocks rose across the board, with Amazon up 2.67%, Netflix up 4.84%, Google up 2.47%, Facebook up 1.17%, and Microsoft up 1.91%.
Apple rose 0.93%. Apple held a new product launch conference and launched the iPhone 14 series models.
Bank stocks rose collectively. JPMorgan Chase rose 1.92%, Goldman Sachs rose 1.24%, Citigroup rose 0.89%, Morgan Stanley rose 2.02%, Bank of America rose 1.6%, and Wells Fargo rose 2.31%.
Airline stocks performed strongly, Boeing rose 2.35%, American Airlines rose 5.07%, Delta Airlines rose 3.37%, Southwest Airlines rose 2.9%, and United Airlines rose 5.52%.
Oil stocks fell collectively. Caron Oil fell more than 3%, Total fell more than 2%, Chevron fell more than 1%, and Exxon Mobil fell nearly 1%.
On the news, international oil prices tumbled, with WTI October crude oil futures closing down $4.94, or 5.68%, at $81.94 a barrel.
Brent crude oil futures for November ended down $4.83, or 5.20%, at $88.00 a barrel.
Popular Chinese concept stocks rose in general, iQiyi rose by more than 12%, Yingxi Group rose by more than 8%, Vipshop rose by more than 6%, Shell and Douyu rose by more than 5%, Bilibili rose by more than 4%. Help rose by more than 3%, Daily Youxian, Pinduoduo, Zhihu, Alibaba, Weilai, and Tencent Music rose by more than 2%, and Baidu and Weibo rose by more than 1%.
AMTD Digital fell more than 8%.
The Federal Reserve released its Beige Book report on economic conditions on Wednesday.
The report found that economic activity has generally remained unchanged since the beginning of July, with five regions reporting a slight or moderate increase in economic activity and another five regions reporting a slight or moderate slowdown in economic activity.
The outlook for future economic growth remains generally weak, with respondents noting that demand is expected to soften further over the next six to 12 months.
In terms of economic data, data released by the U.S. Commerce Department on Wednesday showed that the trade deficit narrowed 12.6% in July from the previous month to $70.65 billion.
In terms of European stock markets, Germany's DAX index closed up 0.35% at 12,915.97 points, France's CAC40 index closed up 0.02% at 6,105.92 points, and the UK's FTSE 100 index closed down 0.86% at 7,237.83 points.
In terms of gold prices, the most actively traded December gold futures price in the New York Mercantile Exchange gold futures market rose $14.9 on the 7th from the previous trading day to close at $1,727.8 an ounce, an increase of 0.87%.
On the U.S. dollar index, the U.S. dollar index, which measures the greenback against six major currencies, was down 0.34% at 109.8400 as of late New York trading.
(Sino-Singapore Jingwei APP)