Wall Street opens with gains with data in focus

Wednesday, 03. August 2022 15:31

Major stocks on Wall Street opened Wednesday's session with gains, as investors anticipated reports on the services and manufacturing sector, while the Census Bureau is due to release data on manufactured goods in the country.

In addition, traders received corporate earnings for the second quarter of this fiscal year from Moderna Inc. and CVS Health Corporation earlier today, with Booking.com and eBay Inc. set to release their reports after the market closes. Meanwhile, the OPEC+ announced a slight increase in oil production in response to the energy crisis, raising concerns about crude supply.

The Dow Jones Industrial Average rose by 157 points or 0.49% at the opening bell, with Nike Inc. gaining 2%. The Nasdaq 100 and the S&P 500 increased by 0.80% and 0.57% respectively as PayPal Holdings pulled both indexes up by 12.19%.

The euro was flat against the dollar, going for $1.01688 at 9:29 am ET.

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Baha Breaking News (BBN) / AB