Wall Street continues to climb post-Consumer Sentiment reading

US stocks maintained their uptrend and are rising boosted by the preliminary US consumer sentiment reading that highlighted a boost in overall sentiment in July, according to the University of Michigan’s key survey.

US consumer sentiment rose to 72.6 points, compared to this July, compared to the previous reading, which recorded 64.4 points, according to the preliminary reading issued by the University of Michigan, USA, on Friday.

The initial reading of this indicator was higher than the market’s expectations that appeared in the recent period, which indicated a lower rise to 65.5 points, which is an initial reading that may subject the month in the coming period to a review that could lead to a further increase or a decline.

The Dow Jones Industrial Average rose to 34,523 points, after adding about 129 points, or 0.4%. The Standard & Poor’s 500 rose to 4,512 points, after gains of about four points, or less than 0.1%, and the Nasdaq Heavy Technology Industries rose to 14,156 points, after adding about 19 points, or 0.2%, to the closing level of the previous trading session.