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12/1/2021, 3:30 PM (Source: TeleTrader)
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Wall Street surges at open after major sell-off

Major stock markets in the United States opened with significant gains on Wednesday, partly rebounding from losses registered during the previous trading day that were prompted by inflation remarks coming from Federal Reserve Chair Jerome Powell. The Fed's head is set to continue his hearing before the Senate Banking Committee later today.

The day so far was marked by news that the number of jobs in the private sector grew by more-than-expected 534,000 during the last month. Meanwhile, the OECD revised down the US economic growth forecast to 5.6% this year, followed by a 3.7% rise in 2022 and 2.4% the year after.

The Dow Jones soared 0.89% or 306 points at the opening bell. The Nasdaq 100 jumped by 1.22% or 196 points, with Vertex Pharma advancing 5.10%. The S&P 500 rose 1.18%. The euro stood flat against the dollar to sell for 1.13428 at 9:27 am ET.

Baha Breaking News (BBN) / ND