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The Dow traded up 2.59% to 47,788.74 while the NASDAQ surged 2.87% to 22,650.38.
The Nasdaq Composite gained over 600 points, rising 2.87% to 22,650.38 on Wednesday.
KEY POINTS
- U.S. crude inventories increased by 3.1 million barrels, far exceeding the expected 701,000-barrel gain.
- Oil prices dropped sharply by 15.2% to $95.76 despite the inventory build.
- U.S. mortgage applications fell only 0.8% after a cumulative 28.5% drop over the prior three weeks.
COMPANIES
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