US STOCKS-Wall St cuts some Brexit losses as fears recede

miércoles 29 de junio de 2016 11:50 GYT
 

* U.S. consumer spending up 0.4 pct in May

* Exxon leads S&P; Chevron leads Dow

* Indexes up: Dow 1.06 pct, S&P 1.19 pct, Nasdaq 1.26 pct (Adds details, comments, updates prices)

By Yashaswini Swamynathan

June 29 (Reuters) - Wall Street was sharply higher on Wednesday, with the three major indexes recovering about half the losses suffered in the aftermath of Britain's shock vote to leave the European Union.

Investors looked for bargains among beaten-down stocks, pushing up markets for the second day after the "Brexit" verdict wiped out about $3 trillion globally in a two-day selloff.

Oil prices jumped as appetite for riskier assets increased. Exxon rose 1.4 percent and gave the biggest boost to the S&P 500, while a 2.5 percent rise in Chevron made the oil company the top influencer on the Dow.

All 10 major S&P indexes were in the black, led by a 2.26 percent jump in the energy index.

Adding to the upbeat sentiment, data showed U.S. consumer spending, which accounts for more than two-thirds of economic activity, increased 0.4 percent in May.   Continuación...