Dow ends up over 200 points as fears of conflict in Hong Kong recede

U.S. stocks rallied on Wednesday, mostly winning back ground lost on Tuesday, after Hong Kong‘s chief executive withdrew a controversial extradition bill that sparked months of protests and as fears that the United Kingdom would leave the European Union without an exit agreement faded, after Parliament voted to require Prime Minister Boris Johnson to ask the European Union to extend the deadline for leaving beyond Oct. 31 if a deal isn‘t reached by then. The Dow Jones Industrial Average rose about 237 points, or 0.9% to 26,355, the S&P 500 index added 32 points, or 1.1% to end the day at about 2,938. The Nasdaq Composite index added roughly 103 points, or 1.3% to close at 7,977. Investors also parsed a series of comments from Federal Reserve officials, which appeared to leave open the chance of another rate cut at its upcoming meeting Sept. 17 and 18. In company news, shares of Tyson Foods Inc. fell 7.8% after the processed foods manufacturer lowered its guidance for 2019, while Starbucks Corp. retreated 0.7% after it cut its forecast for earnings-per-share growth in fiscal 2020.

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