Dow Jones, S&P 500 extend gains for 5th session

US stock indices extended gains on Aug. 19, as global markets recovered from a sell-off sparked by fears of a US economic recession, with investors hoping for a soft landing scenario.

The Dow Jones Industrial Average advanced 236 points, or 0.6%, closing at 40,896 points, extending its gains for the fifth consecutive session.

The S&P 500 index added 54 points, or 0.95%, to 5,608. The Nasdaq Composite Index gained 245 points, or 1.4%, to end at 17,876. The benchmarks extended gains for the fifth and third straight sessions, respectively.

Elsewhere, the STOXX Europe 600 Index rose 0.6% to 514.5 points.

FTSE 100 rose 0.55% to end at 8,356 points. Germany’s DAX 40 Index edged up nearly the same percentage to 18,421 points. The French CAC 40 Index closed 0.7% up at 7,502 points.

Japan’s Nikkei 225 closed 1.75%, or 674 points, down at 37,388 points. TOPIX also shed 1.40% to 2,641 points.

In the oil market, futures contracts for Brent crude for October delivery fell by 2.55%, or $2.02, to $77.66 per barrel.

Meanwhile, prices of West Texas Intermediate (WTI) crude oil for September delivery dropped 2.95%, or $2.28, to $74.37 per barrel.

Gold futures prices for December delivery increased by 0.15%, or $3.5, to $2,541.30 per ounce, hitting a record level for the fifth time this month.