Wall Street Closes Higher Following Release of Fed’s Beige Book

The main indices of the New York Stock Exchange (NYSE) finished higher on Wednesday, supported by positive expectations for economic recovery that led to an improved risk appetite and sentiment among Wall Street investors.

Earlier today, the U.S. Federal Reserve’s Beige Book report showed that the economy expanded better than expected over the last couple of months, citing major indicators.

Markets anticipate the release of the jobs report by the end of the week to witness the progress in recovery from the pandemic.

The Dow Jones Industrial Average gained 25.07, or 0.07%, to close at 34,600.38 points.

Meanwhile, the S&P 500 index, finished at 4,208.12 points, rising by 6.08 points, or 0.14%.

Similarly, the Nasdaq Composite Index rose by 19.85, or 0.14%, and settled at 13,756.33 points.