·           The Dow Jones Industrial Average rose 160.29 points or 0.61% to 26,539.57, the S&P 500 gained 40 points, or 1.24% to 3,258.44 and the Nasdaq Composite added 1.35% to 10,542.94.

·           Chairman Jerome Powell said there are signs the increase in infections is starting to weigh on activity while noting that the path forward for the economy is "extraordinarily uncertain."

·           Recent data point to a possible slowdown in business and hiring as several US states reimpose restrictions after a spike in Covid-19 infections, while deaths in the country caused by the disease surpassed 150,000 on Wednesday.

·           The US economy probably contracted a stunning 34.5% in the second quarter, according to consensus, after the previous 5.0% slide. Personal consumption is also seen falling 34.5%. Meanwhile, another 1.44 million Americans may have filed for unemployment claims, up from the prior week's 1.42 million, with continuing claims likely hovering around 16.3 million.

·           Amazon.com Inc, Facebook Inc, Apple Inc and Alphabet's Google were among the biggest boosts for Nasdaq even as the chief executives of all 4 firms faced jabs from lawmakers at a congressional hearing on antitrust issues. Lawmakers told the CEOs that the US technology giants have too much power and control over digital markets and are harming workers, consumers and small businesses across the economy.

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