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Dow, S&P 500 halt 4-session skid as Turkish lira angst takes a breather


Wednesday, 15 August 2018 04:10 WIB

DOW JONESS & P 500 Standard & Poor's 500Saham ASNasdaq


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U.S. stocks closed Tuesday's session solidly in the green, halting a multiday tumble for the three main equity benchmarks, which advanced as Turkey's currency slide abated, allowing investors to focus instead on a healthy domestic economy and strong corporate results.

The Dow Jones Industrial Average rose 0.5% at 25,300 (on a preliminary basis), the S&P 500 index, added 0.6% to 2,839, with all 11 sectors of the broad-based index finishing in positive territory. Both the Dow and the S&P 500 had fallen in the past four sessions.

The technology-laden Nasdaq Composite Index meanwhile, finished with a 0.7% higher at 7,871.

In corporate news, shares of Tesla Inc. ended 2.3% lower after CEO Elon Musk late Monday said in a tweet that he was working with Goldman Sachs and private-equity firm Silver Lake on the electric-car maker's go-private plan. And shares of Shares of fashion retailer Tapestry Inc. jumped 11% after the parent of Coach and Kate Spade reported fiscal fourth-quarter earnings.

The day's action was supported by a rebound in the Turkish lira which had fallen to a historic low against the dollar on Monday on intensifying concerns about the country's economic health.

Source: Marketwatch


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