US closes higher, Dow up over 230 pts
Major equities in the United States closed higher on Wednesday as they rebounded from the previous day of losses. Industrial production data arrived below expectations, but higher month-on-month and up 5.9% compared to last year. Energy and fuel shares traded in the green as oil futures rose over 1% after American Petroleum Institute revealed that inventories have shrunk.
On the coronavirus front, the White House confirmed that the plan to introduce the COVID-19 booster program on September 20 is still unchanged. In its report to the FDA, Pfizer noted that a third shot of the vaccine increases protection up to 95%. Meanwhile, President Joe Biden met with private sector leaders to discuss vaccination options.
The Dow closed 0.68% higher with Walgreens increasing by 3.94%, while the S&P 500 rose by 0.85% as EOG Resources jumped 8.33%. The Nasdaq 100 climbed 0.78%, led by eBay gaining 3.64%. The euro advanced by 0.12% against the US dollar exchanging hands for $1.18163 at 3:58 pm ET.
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