Investing.com – Stocks were rallying strongly Wednesday afternoon, paced overall by gains in energy, consumer discretionary and industrial stocks.
In addition, the were surging because of strength in Boeing (NYSE:), Goldman Sachs (NYSE:), Home Depot (NYSE:), UnitedHealth Group (NYSE:) and chemical maker Dow Inc. (NYSE:)
At 3:15 PM ET (19:15 GMT), the was up 0.97% and the had added 0.65%. The was up a more modest 0.43% because of weakness in such key tech stocks as Microsoft (NASDAQ:), Facebook (NASDAQ:) and Adobe Systems (NASDAQ:).
Energy shares were surging on the Energy Information Administration’s report of a big drawdown of U.S. . was up 85 cents to $55.78. , the global benchmark, climbed 90 cents to $59.93.
Even with today’s stock-market gains, the major averages are still below their late July peaks and their peaks in the early fall of 2018 before a major slump that ended at Christmas.
Gold was off slightly.
Interest rates were lower, with the yield at 1.464%. But there was still a yield inversion in place with the between the and at a negative 3.95 basis points. The inversion is a signal of a possible recession ahead.
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