9/28/2022, 10:01 PM (Source: TeleTrader)
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Wall Street's strong gains at close halt losing streak

United States stock exchanges closed the trading session on Wednesday firmly in the green territory and thus put a stop to a losing streak that started last week. The British pound erased some of this week's losses and several markets changed course after the Bank of England's decision to purchase domestic bonds until October 14 to restore "orderly market conditions." Elsewhere, Federal Reserve officials delivered remarks about the state of the nation's economy, while on the political front, all eyes remained on the potential escalation of the conflicts in eastern Europe. In business news, Amazon unveiled a new lineup of products.

The Dow Jones Industrial Average index was up 1.88%, or 549 points, at the close with The Home Depot, its best performer, rising 5.02%. The Nasdaq and the S&P 500 both closed 1.97% higher. Biogen jumped 39.85% at the end of the trading session and pulled both indexes up after treatment for Alzheimer's disease it codeveloped with Eisai from Japan showed promising results in trials.

The euro was up 1.5% compared to the dollar to change hands for 0.97346 at 3:59 pm ET.

Baha Breaking News (BBN) / MS