U.S. stocks rebounded Wednesday, one day after a surprise Federal Reserve interest-rate cut spooked investors, with some attributing gains partly to a reaction from oversold conditions. The gains for equity gauges also come after former Vice President Joe Biden won a string of key Democratic victories in the Super Tuesday primaries. The Dow Jones Industrial Average opened about 606 points, 2.3% higher, near 26,524, while the S&P 500 was 1.1%, 32 points, higher, opening near 3,036. The Nasdaq Composite jumped 1.7%, 150 points, to open near 8,834. Biden racked up the most victories in the Tuesday primaries. That helped boost shares of UnitedHealth Group Inc.(UNH), which had rocketed more than 10% higher pre-market. Health insurers had been seen as losing out under a "Medicare For All" regime which was advocated by Democratic rival Bernie Sanders.
-Andrea Riquier; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
March 04, 2020 09:39 ET (14:39 GMT)
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