Wall Street closes higher, Dow up 165 pts

Wednesday, 25. September 2019 22:00

United States stocks ended in the green on Wednesday as investors were buoyed by fresh positive developments in the trade dispute between the US and China. President Donald Trump first said that a trade deal between the pair could happen "sooner than you think," a sentiment which was echoed by Trade Representative Robert Lighthizer who stated that Trump told his negotiation team "to get a good deal." On the domestic front, Federal Reserve Bank of St. Louis President James Bullard called on the Federal Open Market Committee to cut interest rates in the US by another 25 basis points.

The Dow Jones Industrial Average finished 0.61% or 165 points higher, the Nasdaq 100 jumped 1.24% as Cintas Corp. soared 5.74% and the S&P 500 rose 0.67% at the closing bell.

The euro tumbled 0.69% against the dollar to change hands for 1.0944 at 3:59 pm ET while the British pound nosedived 1.11% versus the greenback amid continued political turmoil to go for 1.2356 at the same time.

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Breaking the News / DZ