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8/5, 4:49 PM (Source: TeleTrader)
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Dow jumps 300 pts as services sector stabilizes

The Dow Jones jumped over 300 points on Wednesday after the release of optimistic data suggesting that the economic activity in the services sector in the country expanded. Meanwhile, the pharmaceutical companies in the US reported positive quarterly earnings earlier in the day.

The Dow Jones Industrial Average soared 1.12% or 304 points at 10:46 am ET, while the Nasdaq 100 rose by 0.22% a minute later. At 10:48 am ET, the S&P 500 was up by 0.61.

The euro gained 0.67% versus the dollar, selling for $1.8807 at 10:51 am ET.

Breaking the News / BU