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Midday Market Update

Stocks Keep Up Positive Momentum Wednesday

Mentioned:

U.S. Market
U.S. stocks kept up their positive momentum Wednesday, as investors' worries about the Brexit vote seemed to recede. 

The National Association of Realtors index fell to 110.8 in May, the first year-over-year decline since August 2014. 

U.S. consumer spending rose 0.4% last month after following a revised 1.1% increase in April. 

At midday the Dow was up 1.3%, while the S&P 500 gained 1.4%, and the Nasdaq added 1.5%.

Stocks on the Move
There as limited corporate news to report Wednesday.

Foreign Markets
European stocks made strong gains. The FTSE 100 was up 3.6%, the Paris CAC was up 2.6%, and Germany's DAX gained 1.8%.

Asian markets were also higher. The Shanghai Composite gained 0.7%, the Nikkei 225 was up 1.6%, while the Hang Seng rose 1.3%. 

Karen Wallace does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.