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The Dow Jones Industrial Average on Wednesday ended more than 300 points higher and recorded its best daily gain since mid April as a rally in bank shares amplified a broad-market run-up that has been supported by gains in internet and technology shares. The Dow closed up 346 points, or 1.4%, at 25,146 (on a preliminary basis), representing the best point and percentage gain for the blue-chip gauge since April 10, while the S&P 500 index advanced 0.9% at 2,772, according to FactSet data. The technology-centric Nasdaq Composite Index recorded its third straight all-time closing peak and its fourth consecutive advance. Market participants attributed Wednesday's rally to rising government bond rates, with yields for the 10-year Treasury bond climbing to 2.97% from 2.91% on Tuesday. Higher rates tend to benefit the business of financials, including Goldman Sachs Group Inc. and JPMorgan Chase & Co. , which both ended the session higher.
Nasdaq Composite ends at record for third straight session
U.S. stocks end solidly higher as Dow climbs over 300 points
Shares of Boeing Co. shot up 2.6% in midday trade Wednesday, to pace the Dow Jones Industrial Average's gainers, and to put them on track for the first record close in over three months. The aerospace and defense contractor's stock-price gain of $9.36 was adding about 64 points to the Dow, which was up 229 points. Analyst Harry Breach at Raymond James said he believes the joint venture in auxiliary power units announced by Boeing and Safran SA earlier this week is a "significant move," although it could take decades to have its full impact. Boeing shares' last record close was $264.64 on Feb. 27. They have now nearly doubled (up 98%) over the past 12 months, while the Dow has climbed 18.4%.
The Dow Jones Industrial Average rallied to its highest level in more than two months as shares of financials rallied amid a surge in benchmark government bond yields. The Dow most recently was up 230 points, or 0.9%, at 25,028, with shares of JPMorgan Chase & Co. rallying 2.5% and those for Goldman Sachs Group Inc. advancing 1.4%. The move for the banks comes as the yield for the 10-year Treasury note rose to 2.97% from 2.91%, with rising rates helping to bolster appetite for the companies which tend to benefit as borrowing costs rise. A popular gauge of the baking sector, the Financial Select Sector SPDR ETF , was also up 1.6%. Meanwhile, the S&P 500 index picked up 0.4% at 2,760, while the Nasdaq Composite index gained 0.2% at 7,654.
U.S. stocks are higher early Wednesday, rising amid easing trade-policy tensions. In the process, the Russell 2000 and Nasdaq Composite have extended breaks to uncharted territory, while the S&P 500 has concurrently tagged two-month highs.
The Dow Jones Transportation Average is slumping 25 points, or 0.2%, to defy the sharp gains in the broader market indexes, as a selloff in air carrier stocks weighs on the transport sector. The Dow transports (DJTA) is headed for a third-straight loss, while the Dow Jones Industrial Average climbs 191 points. Meanwhile, the S&P 500 was up 0.4%, and was headed for a third-straight gain. The last time the DJTA fell three-straight days while the S&P 500 rose in each of those days was the three-day period ending Nov. 6, 2017. Back then, the S&P 500 pulled back by about 1% over the next seven sessions before resuming its uptrend. On Wednesday, the DJTA's biggest loser was Delta Air Lines Inc.'s stock, which shed 2.2% after the company lowered its profit outlook. The next biggest decliner was American Airlines Group Inc. shares , which shed 1.6%. Among other air carriers, shares of JetBlue Airways Corp. lost 0.9% and Southwest Airlines Co. gave up 0.8%.
Russell 2000 hits record in early trading
U.S. stock benchmarks opened higher Wednesday with a rally in shares of technology and internet shares intact, putting the Nasdaq Composite on pace to log its third straight record, underlining a re-emergence of risk appetite for investors. The Dow Jones Industrial Average rose nearly 124 points, or 0.5%, at 24,924 , with shares of Dow component UnitedHealth Group Inc. advancing 0.7% after the health-care company raised its quarterly dividend by 20%. Meanwhile, the S&P 500 index gained 0.2% at 2,755, while the Nasdaq traded up 0.2% at 7,652. In other corporate news, Tesla Inc. shares rose about 4% after CEO Elon Musk told shareholders that the electric-car maker was "quite likely" to meet its production goal of 5,000 Model 3 cars a week.
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Key U.S. | Last | Chg | Chg % |
---|---|---|---|
Dow Jones Industrial Average | |||
NASDAQ Composite Index | |||
S&P 500 Index | |||
Russell 2000 Index | |||
Other U.S. | Last | Chg | Chg % |
Dow Jones Transportation Average | |||
Dow Jones Utility Average Index | |||
Dow Jones U.S. Total Stock Market Index | |||
NASDAQ 100 Index (NASDAQ Calculation) | |||
S&P 400 Mid Cap Index | |||
NYSE Composite Index | |||
Barron's 400 Index | |||
CBOE Volatility Index | |||
Global | Last | Chg | Chg % |
Global Dow Realtime USD | |||
Asia/Pacific | Last | Chg | Chg % |
The Asia Dow Index USD | |||
S&P/ASX 200 Benchmark Index | |||
Shanghai Composite Index | |||
Hang Seng Index | |||
S&P BSE Sensex Index | |||
NIKKEI 225 Index | |||
FTSE Straits Times Index | |||
Europe | Last | Chg | Chg % |
STOXX Europe 50 Index | |||
STOXX Europe 600 Index | |||
CAC 40 Index | |||
DAX | |||
IBEX 35 Index | |||
FTSE 100 Index | |||
Americas | Last | Chg | Chg % |
BOVESPA Index | |||
S&P/TSX Composite Index | |||
IPC Indice de Precios Y Cotizaciones |
Company | Last | Chg | Chg % |
---|---|---|---|
Boeing Co. | |||
DowDuPont Inc. | |||
JPMorgan Chase & Co. | |||
Caterpillar Inc. | |||
VISA Inc. Cl A | |||
Walt Disney Co. | |||
McDonald's Corp. | |||
UnitedHealth Group Inc. | |||
Exxon Mobil Corp. | |||
Goldman Sachs Group Inc. | |||
American Express Co. | |||
Cisco Systems Inc. | |||
3M Co. | |||
Johnson & Johnson | |||
Nike Inc. Cl B | |||
Verizon Communications Inc. | |||
Merck & Co. Inc. | |||
Intel Corp. | |||
Home Depot Inc. | |||
Coca-Cola Co. | |||
International Business Machines Corp. | |||
United Technologies Corp. | |||
Chevron Corp. | |||
Procter & Gamble Co. | |||
Apple Inc. | |||
Microsoft Corp. | |||
Walmart Inc. | |||
Pfizer Inc. | |||
Travelers Cos. Inc. | |||
General Electric Co. |