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US stocks edge up as Sen. Sanders quits presidential race

NEW YORK, April 8 (KUNA) -- The US stocks rose Wednesday after the Wall Street critic Democratic presidential hopeful Senator Bernie Sanders dropped out of the 2020 race.
The Dow Jones industrial average closed up 779.71 points, or 3.4 percent, to 23,433.57.
The Standard & Poor's 500 index ended up 90.57 points, or 3.4 percent, to 2,749.98, while the Nasdaq composite earned 2.6 percent, or 203,64 points, to settle at 8,090.90.
Earlier, Sen. Bernie Sanders said he has ended his presidential campaign paving the way for former vice president Joe Biden to win the Democratic presidential nod.
Sanders has not gone along with investors and business people who are worry about his agenda which include medical care for all, tuition-free public college and a wealth tax which require higher taxes.
His democratic rival Biden is widely seen as the more market-friendly candidate.
The market rally is also driven by the improvement of oil prices, as West Texas Intermediate crude rose 3.6 percent to USD 24.48 a barrel. (end) asf.ibi