Corporate Earnings Help Erase July Losses on Wall Street
(NEW YORK) — Wednesday marked another positive day on Wall Street. Investors were encouraged by another day of strong corporate earnings.
The Dow Jones Industrial average closed up 103 points at 12,908. Technology stocks helped the Nasdaq add 32 points, closing at 2,942. The S&P gained nine points, inching closer to a new two-month high.
The last few positive sessions erased the July losses for the three major indexes.
Housing construction also boosted market gains Wednesday. Builders broke more ground on single family homes and apartments last month than they have since the housing market collapsed five years ago. Construction was up 6.9 percent last month to a 760,000 annual pace, the Wall Street Journal reports.
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