Treasury Doubles Debt Buyback, Lifting Dow and S&P 500
U.S. stocks ended Wednesday higher following the Treasury Department's announcement that it would expand its government debt repurchases by at least twofold, a move that pushed long-term Treasury yields down. The Dow Jones Industrial Average advanced 230 points, a 0.4% rise, while both the S&P 500 and the Nasdaq Composite posted matching 0.4% gains.
Key facts
- U.S. stocks rose on Wednesday.
- The Treasury Department announced it would at least double the size of its government debt repurchases.
- Long-dated Treasury yields moved lower.
- The Dow Jones Industrial Average was up 230 points, or 0.4%.
- The S&P 500 gained 0.4%.
- The Nasdaq Composite gained 0.4%.
Entities
Institutions
- U.S. Department of the Treasury
Locations
- United States
Sources
- Quartz —