Stocks rose in afternoon trading as markets gather hope there may be better news on the horizon on inflation, the war in Ukraine and other worries.
New York – Stocks rose in afternoon trading Wednesday and Wall Street added to its gains as markets gather hope that there may be better news on the horizon on inflation, the war in Ukraine and other worries that have been keeping investors unsettled. The S&P 500 rose 1.7% as of 12:06 p.m. Eastern and put the benchmark index further in the green for the week after a rally on Tuesday. The Dow Jones Industrial Average rose 404 points, or 1.2% to 33,949 and the Nasdaq rose 2.8%. Technology stocks had some of the biggest gains as investors shifted money into sectors that are considered riskier. Traditionally safe-play stocks, such as utilities and household goods makers, lagged the broader market. The broad gains followed a solid jump for stocks internationally. Chinese markets soared overnight after Beijing promised help for that country’s struggling real estate industry and its internet companies. Hong Kong’s benchmark Hang Seng surged 9.1%. Stocks in Europe rose as Russia and Ukraine projected optimism for another round of scheduled talks Wednesday. More: Events in the Russian invasion of Ukraine on Wednesday, March 16, 2022 Zelenskyy: Facing Congress on Wednesday, pleading for US help Investors in the U.
