U.S. stocks on Wednesday rose for a third day, positioning Wall Street for what could be its first winning week in five, after a rise in durable-goods orders bolstered sentiment.
“There have been a couple of economic reports over the last two days, with China, the manufacturing company for the world, reporting a slightly better number, and today, we had durable goods to turn the market’s sour mood upside down,” said Mark Luschini, chief investment strategist at Janney Montgomery Scott.
“It’s a natural rebound from oversold conditions,” added Luschini of this week’s advance, which follows a four-week drop that left the Dow industrials down nearly 15% and the S&P 500 off more than 16%.
Dow Jones Industrial Average
(DJI: ^DJI )| Index Value: | 11,320.71 |
|---|---|
| Trade Time: | 4:04PM EDT |
| Change: |  143.95 (1.29%) |
| Prev Close: | 11,176.76 |
|---|---|
| Open: | 11,175.78 |
| Day's Range: | 11,113.04 -11,331.57 |
| 52wk Range: | 9,915.73 -12,928.50 |
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