Stocks close sharply higher as Nike, consumer sentiment spur Wall Street rebound

Stocks close sharply higher as Nike, consumer sentiment spur Wall Street rebound

U.S. stocks rallied Wednesday as strong earnings from Nike and FedEx, along with upbeat consumer confidence data, lifted sentiment after a recent bout of selling.

The S&P 500 (^GSPC) surged 1.5%, while the Dow Jones Industrial Average (^DJI) jumped more than 500 points, or 1.6%. The technology-heavy Nasdaq Composite (^IXIC) also advanced 1.5%.

An upbeat gauge of consumer confidence helped raise the mood on Wednesday. The Conference Board’s Consumer Confidence Index rose to 108.3 this month…


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