All three major averages closed higher, snapping two days of losses
All three major averages rallied Wednesday, reversing losses from earlier in the week.
The Dow Jones Industrial Average rose 416.33 points, or 1.29%, to 32,812.50. The S&P 500 gained 1.56% to 4,155.17, hitting its highest level since June. The Nasdaq Composite increased 2.59% to 12,668.16, boosted by rising tech stocks.
—Carmen Reinicke
Multiple trends point to no recession in the first half
The economy may be showing a classic recession sign, but it doesn’t feel that way for the jobs market.
Multiple data points regarding employment in the first half of the year don’t mesh with what usually happens during recessions, according to research that CNBC’s Steve Liesman gathered.
For one, payrolls usually decline during downturns, when they actually rose in the first of the year. Personal consumption also grew at a solid pace in the first six months, in contras with…
