US stocks close higher, log quarterly gains, but with monthly losses

The main US stock indices rose on Wednesday, after the release of positive US economic data, and posted quarterly gains, but with monthly losses.

Data showed today that the final reading of the US GDP decreased 31.4% in the second quarter, better than forecasts of -31.7%.

Additionally, ADP data showed the US non-farm employment change rose 749,000 jobs during August, beating forecasts of 650,000 jobs, vs. 481,000 in the previous reading.

To the oil market, WTI October futures at Nymex rose 2.4% or 93 cents, to close at $40.22 a barrel, with 5.6% loss this month, and 2.4% gains in the third quarter, after it hit a day high of $40.03 and a low of $38.6.

Brent November futures rose 1.8% or 74 cents, to $42.30 a barrel, with monthly loss of 9.6%, and 0.5% quarterly gains, a day high of $40.8 and a low of $40.3.

As for stocks, Dow Jones rose 1.2% or 329 points to close at 27,781, posted a monthly loss of 2.3% and quarterly gains of 7.6%, after it hit a day high 28,026 and a low 27,511.

Nasdaq rose 0.7% or 82 points to 11,167, and posted a monthly loss of 5.2%, and quarterly gains of 11%, after it hit a high 11,277 and a low 11,092.

S&P 500 rose 0.8% or 27 points to 3,363, and posted monthly loss of 3.9% and quarterly gains of 8.5%, after hitting a high of 3,393 and a low of 3,340.