Cycle-sensitive stocks lead Wall Street rally by Reuters

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© Reuters. Cyclical sensitive stocks are driving Wall Street higher

NEW YORK (Reuters) – US stocks rallied in a volatile session on Monday with the support of the hopes of the vaccine for the prevention of -19 Kovid disease has given support to the sensitive sectors of the economic cycle, such as energy and industry.

Energy stocks jumped 7 percent, supported by further gains, amid expectations that a COVID-19 vaccine will help fuel demand.

The industrial and financial rose by more than one percent indication of each sector after data showed that the activity of US companies grew in November at the fastest pace in more than five years.

The industrial index ended the trading session on Wall Street, up 327.79 points, or 1.12 percent, to 29,591.27 points, while the benchmark Standard & Poor’s 500 index rose 20.05 points, or 0.56 percent, to close at 3,577.59 points.

The Nasdaq Composite Index closed up 12.95 points, or 0.11 percent, to 11,867.92 points.

(Wajdi Al Alfi prepared for the Arabic newsletter)

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