The Dow Jones Industrials leaped 409.09 points, or 1.2%, to conclude Wednesday at 33,421.23 The 30-stock index is down more than 3% this month, including a 1% decline on Tuesday.
The S&P 500 pulled ahead 48.91 points, or 1.2%, to 4,158.81.
The NASDAQ Composite regained 157.51 points, or 1.3%, to 12,500.57.
Regional bank shares rebounded on Wednesday, helping market sentiment, as Western Alliance Bancorp detailed improving deposit growth. Western Alliance soared 12%.
At the conclusion of a meeting between the president and congressional leaders Tuesday, House Speaker Kevin McCarthy said that a “better process” is now in place for further talks, saying it’s “possible to get a deal by the end of the week.” The White House said that Biden canceled a second leg of an upcoming international trip to focus on the negotiations.
At the conclusion of a meeting between the president and congressional leaders Tuesday, House Speaker Kevin McCarthy said that a “better process” is now in place for further talks, saying it’s “possible to get a deal by the end of the week.” The White House said that Biden canceled a second leg of an upcoming international trip to focus on the negotiations.
Prices for the 10-year Treasury demurred, raising yields to 3.58% from Tuesday’s 3.53%. Treasury prices and yields move in opposite directions.
Oil prices added $1.88 to $72.74 U.S. a barrel.
Gold prices lost $6.70 to $1,986.30 U.S. an ounce.