US stocks have undergone a surprising increase after Republican nominee Donald Trump and his Democratic rival, Hillary Clinton, faced off in the first US presidential debate.
The controversial debate on Monday marked the first of the three to come, giving a boost to major US industrial markets on Wall Street the next day, with technology and consumer sectors receiving the highest gains despite a fall in oil prices.
The Dow Jones Industrial Average had a 0.7-percent increase, closing at 18,228.30 and the American financial services company, Standard and Poor’s (S&P) rose 0.6 percent to 2,159.93. The NASDAQ Composite Index underwent a 0.9-percent jump, amounting to 5,305.71.
“The number came in much better than expected, so consumer stocks seem to be catching a bit after having a hard time for probably a month or two,” said Mark Spellman, portfolio manager at Alpine Funds in New York.
US economic analysts have attributed the boost in stocks to…