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Published: Thu, October 13, 2016
Economy | By Melissa Porter

How the Dow Jones industrial average fared on Wednesday


The third-quarter earnings season will kick off with aluminium producer Alcoa on Tuesday.

The S&P 500 is up 119.72 points, or 5.9 percent.

USA stocks rose Monday as crude oil jumped to its highest price in more than a year and energy companies climbed with it. Investors also reacted to the latest twists in the presidential race.

The Standard & Poor's 500 index edged up 9.92 points, or 0.5 percent, to 2,163.66.

"As American companies continue issuing debt in a low interest-rate environment, it is becoming increasingly important for investors to have access to robust information on the US corporate bond market that offers sophisticated insights into its behavior".

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"The offset to rising interest rates would have to be economic growth". Materials and technology companies also fell.

Market participants are also increasingly eyeing politics as the November 8 USA elections draw near.

Republican presidential nominee Donald Trump and his Democratic rival Hillary Clinton went after each other relentlessly on Sunday night in the second presidential debate, hitting each other hard with scandals.

"There is more discussion that the control in Congress could possibly shift", said Ernie Cecilia, chief investment officer of Bryn Mawr Trust in Bryn Mawr, Pennsylvania.

The Dow Jones industrial average rose 128 points, or 0.7 percent, to 18,367.

By leveraging the MarketAxess liquidity data sets with S&P DJI's world class indexing capabilities, the initial focus of this collaboration is centered on creating sub-indices of the S&P 500® Bond Index that enable the marketplace to identify and track the most liquid bonds in each quality range and sector. (NYSE: UNH) and Johnson & Johnson (NYSE: JNJ) leading the declines.

St. Jude dropped 3 percent in heavy premarket trading after the company warned that some of its implanted heart devices are at risk of premature battery depletion, a condition it said had been linked to two patient deaths. Abbott Laboratories, which has agreed to buy St Jude, dropped 5.4 percent.

Stocks are opening solidly higher on Wall Street, led by gains in energy companies as the price of crude oil climbs.

For the year, the S&P 500 is up 4.5 percent.

Investors are looking to Wednesday's release of minutes of the latest Federal Reserve Open Market Committee meeting to see how close the US central bank was to hiking rates last month.

The Nasdaq is up 239.38 points, or 4.8 percent.

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