NEW YORK, KOMPAS.com - U.S. stocks closed higher on Wednesday as the Dow Jones Industrial Average ending an eight-day decline in a row.
The Dow index of 30 blue-chip stocks rose 29.82 points (0.25 percent) to close at 11896.44. The S & P 500 added 6.29 points (0.50 percent) to 1260.34, while the technology-heavy Nasdaq composite index rose 23.83 points (0.89 percent) to 2693.07 position. All three indexes have fallen more than two percent on Tuesday amid concerns about economic weakness in the United States and Europe. MasterCard shares jumped 13.4 percent Wednesday after the credit card giant reported second quarter earnings that beat estimates comfortable Wall Street. Technology shares also helped lift the market, with chip maker Intel rose 1.4 percent and Internet search giant Google was up 1.5 percent. Meanwhile, energy stocks fell as oil prices plunged to its lowest one-month of weak economic data pushed. ExxonMobil, Chevron lost 0.2 percent and declined 0.7 percent. Wednesday profit came despite a pair of reports showed that the U.S. economy slows.
ADP reported that 114,000 net jobs created by private non-farm businesses in the United States in July, less than in June, but better than analysts expected. And the Institute for Supply Management said its index of non-manufacturing activity fell to 52.7 last month, showed that the giant U.S. services sector grew by a snail's pace in July. A level of 50 indicates no growth.
"Economic numbers are bad for most of the week and a half ago and today there is no difference," said Michael James, senior equity trader Wedbush Morgan Securities.
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