Wall Street ends over 1% higher

US stock indices closed the second session of the week sharply higher after closing on Monday for a bank holiday, with financial and energy shares leading the charge higher amid attempts to recover heavy losses sustained on the back of the political crisis in Italy.  

Earlier US data showed the private sector added 178 thousand new jobs in May, compared to 163K in April, and missing expectations of 191K. 

US GDP grew 2.2% in the second quarter, missing estimates of 2.3%, while GDP prices rose 1.9%, missing forecasts of 2%. 

Wholesale inventories were not changed in April, compared to a 0.3% rise in March, while analysts expected a 0.4% increase, as markets await the Beige Book, upon which Federal Reserve policymakers depend for their policy views and decisions. 

Dow Jones rose 1.26%, or 306.33 points to 24,667.78, while Standard and Poor's 500 rallied 1.27%, or 34.15 points to 2,724.01. NASDAQ Composite climbed 0.89%, or 65.86 points to 7,462.45. 

Gold futures due on August 15 rose 0.18% to $1,306.40 an ounce from the opening of $1,304.10, while the dollar index fell 0.75% to 94.11 from the opening of 94.82. 

US crude futures due on July 15 rose 2.44% to $68.36 a barrel from the opening of $66.73, while Brent futures due on July 15 rose 3.02% to $77.67 a barrel from the opening of $75.39.