(Reuters) – Wall Street’s main indexes rose on Wednesday as fears of a global economic slowdown were calmed by robust economic data from China, while easing tensions in Hong Kong added to an upbeat mood.
FILE PHOTO: A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., September 3, 2019. REUTERS/Andrew Kelly
Activity in China’s services sector expanded at the fastest pace in three months in August, providing a boost to the world’s second-largest economy that has been struggling to reverse a prolonged slump in its manufacturing sector.
The mood also got a lift after Hong Kong leader Carrie Lam withdrew an extradition bill that had triggered months of often violent protests in the Chinese-ruled city.
“This is a sentiment driven market and whenever you get news like this, while it may not directly impact the U.S., it causes a ripple effect,” said Ryan Nauman, market strategist at Informa Financial Intelligence in Lake Taho, California.
Markets struggled last month as escalating…