U.S. stocks finished higher on Wednesday, with all three major indexes rising about 1 percent, as investors welcomed a rise in durable goods orders.
In world markets, European stocks ended higher, led by the DAX in Germany rising 2.7 percent. Asian markets ended lower, with the declines led by the Hang Seng in Hong Kong falling 2.1 percent.
In U.S. economic news, orders for durable goods rose 4 percent in July, after falling 1.3 percent the previous month, according to a report from the Commerce Department. Economists were looking for a 1.9 rise in orders.
Meanwhile, the Congressional Budget Office (CBO) said the United States is on track to accumulate a $1.3 trillion deficit this year, marking the third consecutive year of over $1 trillion in deficits.
The Dow Jones industrial average rose 143.95, or 1.3 percent, to 11,320.71. The broader Standard & Poor’s 500 index rose 15.25, or 1.3 percent, to 1,177.60. The technology-heavy Nasdaq composite index rose 21.63, or 0.9 percent, to 2,467.69.