US opens higher on positive private sector data

Wednesday, 02. September 2020 15:30

Major stock markets in the United States opened higher on Wednesday as the Automatic Data Processing's (ADP) National Employment Report revealed a rise in jobs in the private sector in August. Earlier, National Institute of Allergy and Infectious Diseases Director Dr. Anthony Fauci hinted at a possibility of a vaccine against the coronavirus to be released earlier than expected. Traders are also waiting for a new update on the economic situation by President of Federal Reserve Bank of Cleveland Loretta Mester.

The Dow Jones Industrial Average traded 0.38% or 114 points higher at the opening as Walmart Inc. rose by 1.21%. The Nasdaq 100 grew by 1.05% and the S&P 500 went up by 0.56% with Nvidia Corporation as the top performer on both indexes with an increase of 4.23%.

The euro lost 0.64% to the dollar to sell for $1.18354 at 9:27 am ET.

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Breaking the News / JR