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US stocks close higher as investors shake off turmoil in Washington | KTIC Radio

US stocks close higher as investors shake off turmoil in Washington

iStock/Thinkstock
iStock/Thinkstock

(NEW YORK) — Wall Street had a second straight day of gains as investors shrugged off worries about political turmoil in Washington, D.C.

The Dow Jones Industrial Average jumped 141.82 (+0.69 percent) to finish at 20,804.84.

The Nasdaq gained 28.57 (+0.47 percent) to close at 6,083.70 while the S&P 500 finished at 2,381.73, up 16.01 (+0.68 percent) from its open.

Crude oil was about 2 percent higher with prices over $50 per barrel.

President Trump: Wednesday was the worst day of the year for stocks after reports President Donald Trump asked former FBI Director James Comey to stop the investigation into alleged ties between Russia and the Trump campaign. Investors worried the focus was turning away from the administration’s pro-business agenda, but their concerns were eased after Deputy Attorney General Rod Rosenstein appointed Robert Mueller as special counsel to the investigation.

Winners and Losers:  A weak earnings report from Foot Locker Retail, Inc. caused the footwear retailer to slump about 17 percent.

Shares of Deere & Company soared 7 percent after beating analysts’ earnings expectations and boosting revenue guidance for the year.

Vistra Energy Corp is reportedly in talks to acquire electric company Dynegy Inc. Shares of the power producers were up about 2 percent and 26 percent higher respectively.

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