U.S. stocks open higher as comeback rally continues

Xinhua
22 Jul 2021, 02:44 GMT+10

NEW YORK, July 21 (Xinhua) -- U.S. stocks traded on an upbeat note on Wednesday morning, as comeback rally continued on Wall Street after Monday's big rout.

Shortly after the opening bell, the Dow Jones Industrial Average rose 269.23 points, or 0.78 percent, to 34,781.22. The S&P 500 added 25.39 points, or 0.59 percent, to 4,328.25. The Nasdaq Composite Index increased 44.95 points, or 0.31 percent, to 14,543.83.

Ten of the 11 primary S&P 500 sectors advanced in morning trading, with energy up 2.9 percent, outpacing the rest. Health care slipped 0.7 percent, the lone declining group.

Netflix shares fell more than 3 percent on Wednesday morning as the U.S. streaming video services company reported its second-quarter results after the closing bell on Tuesday, providing lighter-than-expected guidance for subscriber growth.

U.S. equities have experienced great volatility recently amid concerns over inflation and worries over a resurgence in COVID-19 infections. The Dow plunged more than 700 points on Monday, followed by a rebound of 550 points on Tuesday.

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