US stocks closed higher on Tuesday, November 22nd, shrugging off China’s policies regarding restrictions imposed due to COVID-19.
Instead, it focused on a batch of strong earnings reports and the possibility of a future interest rate hike during a short trading week due to the Thanksgiving holiday.
At the end of the session, the Dow Jones index rose by 1.18% to 34,098 points.
The S&P500 rose 1.36%, recording 4003 points, the first close above the 4000-point level since September, and the Nasdaq rose 1.36% at 11174 points.
China saw its first mainland death from Covid since May over the weekend, prompting officials to back up protocols to limit the spread of the virus.
Just a week ago, the country began easing some of its strict COVID-19 measures, on the way to a more flexible policy.
Investors will be watching the release of earnings reports from HP Inc and Nordstrom following the close, as well as economic reports due for release on Wednesday, November 23, which include Initial Jobless Claims and Consumer Confidence.
