9/28/2022, 4:57 PM (Source: TeleTrader)
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Wall Street turns to gains, Dow surges 300 pts

Major stock exchanges on Wall Street recorded gains on Wednesday after struggling for direction at the opening bell, as investors digestest latest data on the country's trade deficit.

Meanwhile, the market participants kept a close eye on the Bank of England's decision to temporarily acquire long-dated United Kingdom government bonds in order to stabilize market conditions, a day after the bonds reached new highs, seemingly prompting the 10-year yields on the United States Treasury notes to fall.

The Dow Jones Industrial Average surged 1.03% or 300 points at 10:48 am ET. A minute later, the Nasdaq 100 and the S&P 500 soared by 0.66% and 0.97% respectively. The euro gained 0.30% against the American currency, selling at $0.96226 at 10:56 am ET.

Baha Breaking News (BBN) / AB