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Wall Street Opens Higher on Debt Ceiling, Energy Relief; Dow up 400 Pts By Investing.com

by Mike Robinson

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© Reuters.

Geoffrey Smith 

The U.S. stock market opened strongly higher on Thursday due to relief from a temporary deal that delayed a U.S. Government default, and the partial retreat by sky-high energy costs which pose a growing threat to the global economy.

The stock was up by 404 points or 1.2% at 34,821 Points, as of 9:43 am ET (1343 GMT). It was up by 1.1%, and it was up for 1.2%.

Due to the developments in Washington DC, and Moscow, stock prices were gaining on Wednesday. Senator Minority Leader Mitch McConnell suggested delaying a final reckoning about the debt ceiling to early December. Meanwhile, Vladimir Putin made the first sign that Russia is willing to raise gas supplies to Europe in an attempt to lower prices. 

The new sign that the labor market is making steady progress was evident as the Delta-variant Covid-19 wave recedes also showed some signs. The number of people who lost their jobs last week was 326,000. This broke the streak of three consecutive weeks with gains. 

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