On Wednesday, July 21, U.S. stocks climbed despite fears of surging infections due to the Covid-19 delta variant.
An analyst stated that the investor’s decision today is due to an over-correction made yesterday.
Last Tuesday, the global stock market, including all of Asia, the EU and the U.S., crashed. Analysts described this as an overreaction to fears of the coronavirus and inflation.
The Dow Jones Industrial Average rose 1.62%, with a net increase of $549.95. This sent the stocks higher at $34,511.99 per share.
Its top performers were Boeing Co. which progressed 4.91% or 10.16 points to $217.15.
Honeywell International Inc and American Express Co jumped 4.08% or 9.00 points to $229.66 and 3.72% or 6.06 points to $168.87.
Likewise, the NASDAQ Composite Index rallied 1.57%, with a net gain of $223.89. This sent the stocks above at $14,498.88 per share.
Its best performers were led by NeuroMetrix Inc, which sharply spiked 207.98% or 6.78 points to $10.04.
NeuroBo Pharmaceuticals Inc and Nova Lifestyle Inc tumbled 40.78% or 1.15 points to $3.97 and 36.89$ or 1.21 points to $4.49.
Consequently, the S&P 500 Index gained 1.52%, with a net increase of $64.57. This sent the stock up at $4,323.06 per share.
HCA Healthcare Inc led the benchmark’s gain by rising 14.37% or 31.27 points to $248.90.
American Airlines Group Inc and Norweigan Cruise Line Holdings Ltd hopped 8.38% or 1.59 points to $20.56 and 8.28% or 1.81 points to $23.68.
World Stocks Improved
Moreover, the MSCI World Index improved 1.02% with a net gain of $30.31 which sent the stocks higher at $3,005.86 per share.
In the European Union, the STOXX Europe 600 boosted 0.52% or 2.32 points to $446.61 per share.
Moreover, on the Frankfurt Stock Exchange, the DAX and the MDAX Performance Index both gained 0.55% to $15,216 per share and $0.22% or $33,951 per share, respectively.
On the Paris Stock Exchange, the CAC 40 Index jumped 0.81% or 50.8 points to $6,347 per share.
In Asia Pacific, Japan’s Nikkei 225 and TOPIX Index both soared 0.62% or 170.36 points to $27,559 and 1.02% or 19.29 points to $1,908.18, respectively.
China’s SZSE Component Index and SSE Composite Index also climbed 1.13% or 169.58 points to $15,180.93 and 0.60% or 21.31 points to $3,558.10, respectively.