Wall Street shares rally at close, Dow soars over 400 pts

Wednesday, 03. August 2022 22:00

Major stocks on Wall Street ended the trading session on Wednesday recording significant gains after the report on the country's services industry revealed a three-month peak in July, seemingly dampening concerns that the economy is entering a recession.

Earlier today, Moderna Inc. and CVS Health Corporation published their second quarterly earnings of the fiscal year, with Booking.com and eBay Inc. set to release their reports after the closing bell.

The Dow Jones Industrial Average soared by 1.28% or 415 points at the closing bell, after climbing over 500 points just ahead of the close. The Walt Disney Company was the index's best performer gaining 4.12%. The Nasdaq 100 surged by 2.73% over 350 points, while the S&P 500 jumped by 1.56%, with Moderna Inc. pulling both indexes up by 15.97%.

The euro was flat against the dollar, going for $1.01675 at 3:58 pm ET.

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