USA markets close higher as Irma concerns ease

Lloyd Doyle
September 13, 2017

Stocks on Wall Street rose on Monday as Hurricane Irma lost strength, raising hopes it will not cause as much damage as feared.

"Armenpress" reports the value of Dow Jones up by 1.19% to 22057.37 points, S&P 500 up by 1.08% to 2488.11 points, Nasdaq up by 1.13% to 6432.27 points.

Irma, which hit Florida as a category four hurricane on Sunday, has since been downgraded to a tropical storm.

The Nasdaq composite advanced 72.07 points, or 1.1 percent, to 6,432.26. It continued to march north on Monday, dumping rains across the state.

Hurricanes have put markets on edge over recent weeks, as investors show signs of unease when it comes to assessing the impact of these natural disasters on certain markets, including insurance and airlines.

Shares in insurers saw gains, with Travelers up 2.4% to make it one of the steepest risers in the Dow.

Expectations for tighter monetary policy in the United States have been dampened recently.

In corporate news, USA credit reporting giant Equifax announced last week that a cyber-security incident could potentially impact approximately 143 million US consumers. Shares tumbled 8.20 percent on Monday.

Other reports by Iphone Fresh

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