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US stocks gain on tentative border deal

IANS  |  New York 

US stocks ended higher as the market has been boosted by a tentative deal by US lawmakers to keep the government open and Jerome Powell's positive remarks on US economy.

Shortly after the closing bell, the rebounded 372.65 points, or 1.49 percent, to 25,425.76 on Tuesday. The S&P 500 was up 34.93 points, or 1.29 percent, to 2,744.73. The rose 106.71 points, or 1.46 percent, to 7,414.62, reported.

Shares of Under rose nearly 4.5 percent around the closing bell, as the U.S. reported upbeat fourth-quarter earnings that beat Wall Street estimates.

Most of the blue chips in the Dow notched solid gains throughout the day, which helped pare losses of the Dow on Monday.

Shares of US and US surged nearly 3 percent and over 2.6 percent, respectively, leading the winners.

Ten of the 11 primary S&P sectors extended gains on Tuesday, with the materials sector up over 2 percent, leading the gainers.

Democrats and Republicans reached a temporary deal on border security funding on Monday night, which has lifted investors' risk-on sentiments.

Powell said during a forum in on Tuesday that the country is continuing to see solid economic growth, according to

On the economic front, U.S. job openings increased to 7.3 million in December 2018, compared with nearly 6.9 million in November, the said in a JOLTS report on Tuesday.

The report, tracking monthly change in job openings, hiring and quits, is an important indicator to gauge the strength of US labour market.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 13 2019. 05:56 IST
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