Wall Street continues to rebound, Dow up 150 pts

Market Reports | Markets 5/19/2017, 6:48 PM
Wall Street continues to rebound, Dow up 150 pts

Markets in the United States continued to add gains on Friday, the Dow rising 150 points in the intraday trade, reversing losses caused by Trump turmoil. Earlier in the week, it was reported the US President Donald Trump revealed confidential information to Russians and had attempted to stop the FBI probe into former National Security Advisor Michael Flynn's alleged contacts with foreign officials. However, investors grew more confident on Friday, becoming less concerned with the political situation in the US as Trump's business-friendly agendas overweighed political instability fears.

The Dow Jones Industrial Average gained 0.79% at 6:41 pm CET, adding around 150 points. Caterpillar and Boeing were the main advancers, increasing 2.07% and 1.36% respectively at 6:27 pm CET. The S&P 500 was also higher, rising 0.87% on the strong performance of the information technology sector and industrials at 6:45 pm CET. Meanwhile, the Nasdaq 100 traded 0.76% higher at the same time.

The US dollar shed 0.80% against the euro, changing hands for 0.8934 at 6:46 pm CET. 

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