US stocks rise after upbeat private-sector jobs data

The main US stock benchmarks rose in early trading on Wednesday, lifted by positive economic data, after investors absorbed the results of the first election debate between the current presidential candidates.

The debate yesterday resulted in harsh criticism exchange between the Republican candidate Donald Trump and his Democratic rival Joe Biden.

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.

As for stocks, Dow Jones rose 1.3% or 360 points to 27,812 as of 15:23 GMT, Nasdaq rose 1.2% or 136 points to 11,221, and S&P 500 rose 1% or 34 points to 3,369.