Stocks climbed on Wednesday, boosted by the latest earnings reports and economic data.
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The Dow Jones Industrial Average jumped 241.12 points, or nearly 1 percent, to 25,115.76. The S&P 500 rose 29.11 points, or 1.1 percent, to 2,711.74. The Nasdaq Composite was up 144.25 points, or 2 percent. at 7,305.90.
A handful of big names posted their quarterly results on Wednesday, and a highlight was General Motors Co. The carmaker topped quarterly expectations on strong truck and crossover sales.
Traders also digested the ADP payrolls report, which showed the U.S. economy added 227,000 jobs versus the estimate for 189,000. On Friday the government's monthly jobs report will be released.
|I:DJI||DOW JONES AVERAGES||25628.9||-623.34||-2.37%|
|I:COMP||NASDAQ COMPOSITE INDEX||7751.765644||-239.62||-3.00%|
Stocks were higher Tuesday following Monday’s losses as investors assessed the latest economic data and corporate earnings reports.
The latest Case-Shiller report on home prices, released on Tuesday, showed prices experienced their slowest annual growth in August since December 2016. This was just the latest piece of data supporting a slowing housing market as rising rates and climbing prices are starting to dent demand.
In Wednesday’s trading in Asia, China’s Shanghai Composite finished the day higher by 1.4 percent.
Hong Kong's Hang Seng rose 1.2 percent.
Japan’s Nikkei average ended the day up 2.16 percent.
In Europe, London’s FTSE traded up 1.5 percent, Germany’s DAX gained 1.3 percent and France’s CAC added 2.2 percent.
FOX Business’ Ken Martin contributed to this article.