Energy Shares Lead Broad Rebound on Wall Street
Walter Todd said that You have opposing forces kind of keeping the market from breaking out to a new high,
but yet the fundamental data seem to be keeping it from breaking down and selling off significantly,
The Dow Jones Industrial Average rose 54.33 points, or 0.25 percent, to 21,807.64, the S&P 500 gained 7.69 points, or 0.31 percent, to 2,465.54
and the Nasdaq Composite added 17.74 points, or 0.28 percent, to 6,393.31.
Data showed U. S. services sector activity accelerated in August amid strong gains in new orders and employment, while another report showed only a modest rise in the trade deficit in July - the latest signs
that the economy had gathered momentum early in the third quarter.
U. S. stocks built on moderate gains after news that President Donald Trump, siding with Democrats over his fellow Republicans, said he agreed
to pass an extension of the U. S. debt limit until Dec. 15, potentially avoiding an unprecedented default on U. S. government debt.
“The natural trend in the market is to run scared at the first sign of trouble
and then to bounce back," said Brad McMillan, chief investment officer for Commonwealth Financial Network in Waltham, Massachusetts.
The S&P 500 on Tuesday had suffered its biggest single-day decline in nearly three weeks amid fresh tensions involving North Korea
and a second powerful hurricane bearing down on the U. S. south.
Todd said that You kind of have these opposing forces pushing on each other and keeping the market in a very narrow range,
