Wall St. rallies as Brexit seen less most likely

© Reuters. Traders deal with the floor of the NYSE

By Rodrigo Campos New York City (Reuters) – Wall Street rose on Monday in a relief rally after indications that British voters later this week will choose to remain in the European Union. The day’s gains removed the majority of last week’s decline, which came partly on concerns of what a British exit from the EU would mean for the international economy and trade. The vote on whether to remain is arranged for Thursday. The most current surveys showed a change in momentum preferring the ‘continue to be’ camp just days away from the vote. “The market is placing for a ‘continue to be’ vote, so you see the fear and unpredictability trade loosening up today,” stated Quincy Krosby, market strategist at Prudential Financial (NYSE:-RRB- in Newark, New Jersey. She said, however, that the reverse trade could be triggered by any indication the Brexit – or British exit from the EU – camp is getting momentum. “It is a very long time between now and Thursday.” The Dow Jones commercial average () was up 179.87 points, or 1.02 percent, to 17,855.03, the S&P 500 () had gained 18.05 points, or 0.87 percent, to 2,089.27 and the Nasdaq Composite () had included 52.46 points, or 1.09 percent, to 4,852.80. The S&P 500 once again hit technical resistance at 2,100, a level that has actually seen clusters of sellers in the current past. The British pound acquired 2.3 percent versus the United States dollar on its strongest day in 7-1/2 years. U.S.-traded shares of JD.com (O:-RRB- rallied 5.5 percent to $21.24 after Walmart (N:-RRB- said it would offer its Chinese e-commerce company to JD.com and develop a tactical alliance. Walmart shares acquired 0.3 percent to $71.17. Financing Club Corp (N:-RRB- gained 3.6 percent to $5.05 after Chinese billionaire Chen Tianqiao raised his stake in the online financing platform, following the current ouster of founder and President Renaud Laplanche. The S&P 500 published 35 new 52-week highs and no brand-new lows; the Nasdaq taped 63 new highs and 32 new lows. Disclaimer: Combination Media would like to remind you that the data included in this website is not always real-time nor precise. All CFDs (stocks, indexes, futures) and Forex rates are not offered by exchanges however rather by market makers, therefore prices might not be precise and may vary from the real market value, suggesting costs are indicative and not proper for trading purposes. Therefore Combination Media does n`t bear any duty for any trading losses you may incur as an outcome of utilizing this information. Fusion Media or anyone involved with Blend Media will not accept any liability for loss or damage as an outcome of reliance on the information including data, quotes, charts and buy/sell signals consisted of within this website. Please be totally notified concerning the dangers and expenses associated with trading the financial markets, it is one of the riskiest investment forms possible.

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