Stocks are moving solidly higher in midday trading on Wall Street as markets stabilise following three days of turmoil.

Banks, retailers and industrial companies also posted gains Wednesday, helping indexes claw back more of the ground they lost in steep drops Friday and Monday. Boeing added 3 percent and JPMorgan Chase rose 1.4 percent.

The gains were broad. Two stocks rose for every one that fell on the New York Stock Exchange.

Wynn Resorts jumped 8.6 percent after Steve Wynn said he would resign as CEO following allegations of sexual misconduct.

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The Standard & Poor's 500 rose 20 points, or 0.8 percent, to 2,715.

The Dow Jones industrial average rose 317 points, or 1.3 percent, to 25,230. The Nasdaq climbed 21 points, or 0.3 percent, to 7,137.

Consumer-focused companies rose the most in early trading Wednesday. Disney rose 1.5 percent and Amazon rose 1 percent.

Technology companies fell. Microsoft gave up 1.2 percent.

Chipotle Mexican Grill slumped 8.8 percent after saying it expects customer traffic to continue to decline.

Analysts have predicted that the local market will follow the US trends when trading opens today.