The broad-based S&P 500 gained 1.1 per cent to 2,937.78, while the tech-rich Nasdaq Composite Index advanced 1.3 per cent to 7,976.88.
Gregori Volokhine, fund manager at Meeschaert Financial Services, said Ms Lam's decision in Hong Kong"removed a big worry" for investors who had feared a muscular response from Beijing to the demonstrations. Markets have factored in the grinding US-China trade war but"a big degradation of the situation in Hong Kong has not been figured in," Mr Volokhine added."Although concerns regarding tariffs and trade policy uncertainty continued, the majority of businesses remained optimistic about the near-term outlook," the central bank said in nationwide survey of economic activity.
Among individual companies, JetBlue Airways slid 4.5 per cent as it lowered a key revenue forecast, due to weaker-than-expected demand and the expected hit to flights from Hurricane Dorian.
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