How major USA stock market indexes fared Monday


Wall Street stocks jumped on Tuesday (Aug 22), with investors taking advantage of a recent pullback in equities as worries about United States political stability and tensions with North Korea receded.

KEEPING SCORE: Hong Kong's Hang Seng index gained 1 percent to 27,421.58 points and Seoul's Kospi added 0.3 percent to 2,362.40.

The Dow briefly fell below its 50-day moving average, while the S&P 500 remained below the 50-day technical level.

Shares of high-profile technology firms Apple, Alphabet and Microsoft were up about 1%.

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WALL STREET: The Standard & Poor's 500 index steadied following losses.

The Dow Jones Industrial Average rose 0.9% to 21,899.89, the S&P 500 gained 1% to 2,452.51 and the Nasdaq closed up 1.4% at 6,297.48.

The S&P 500 energy index was down 0.6%, leading sector declines in the S&P 500, with United States crude oil prices settling down 2.4%, giving back last week's gains.

ROCKY MOUNTAIN HIGH: This week's highlight probably will be a mountain gathering in Jackson Hole, Wyo., for central bankers, economists and policy makers.

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Market participants began to turn their focus to the Federal Reserve meeting at Jackson Hole, Wyoming later this week which will be attended by Fed Chair Janet Yellen, European Central Bank president, Mario Draghi, and other global central bankers. Stimulus from central banks has been one of the main reasons for the stock market's surge since the Great Recession.

About 5.24 billion shares changed hands in USA exchanges, below the 6.28 billion daily average over the last 20 sessions. Tensions with North Korea are higher than usual, and Pyongyang in the past has responded to the drills with weapons tests and belligerent rhetoric.

The Russell 2000 is up 13.75 points, or 1 percent.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.19 percent. According to the report, which cited five sources familiar with the talks between top members of the Trump administration and several key Republican Congressmen, a broad consensus has been reached on the best way to go about cutting both the individual and corporate tax rates. The contract lost $1.13 on Monday to close at $47.53. Brent crude, the worldwide standard, fell 50 cents to $52.22 a barrel.

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Gold for August delivery fell 0.4% to $1,285.10 a troy ounce - its biggest decline in a week.