The Dow Jones industrial average and S&P 500 ended at record highs for a third straight day on Wednesday, while U.S. two-year Treasury yields and the dollar hit multi-year peaks after upbeat U.S. economic data reinforced expectations for interest rate hikes.
Gains in industrial stocks helped the U.S. indexes, with the S&P 500 industrial sector .SPLRCI ending up 0.8 percent. The S&P's gains were meager, while the Nasdaq slipped after a drop in tech heavyweights ahead of the Thanksgiving Day holiday on Thursday and an early market close on Black Friday. A 10.5 percent drop in Eli Lilly & Co (LLY.N) also weighed on the S&P.
The Nasdaq had touched record closing and intraday highs over the past two days. Expectations that markets would benefit from U.S. President-elect Donald Trump's policies have helped boost shares.
European shares steadied, with basic resources companies underpinning the broader market following a rise in metals prices. The European basic resources index .SXPP ended 1.2 percent firmer after hitting its highest level since mid-2015.
U.S. two-year Treasury note yields US2YT=RR rose to a 6-1/2 year high of 1.151 percent, while benchmark 10-year notes US10YT=RR hit 2.417 percent, the highest since July 2015. The peaks were touched after data showed that U.S. manufactured capital goods rebounded in October, boosting expectations for faster economic growth.
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4 comments:
That sounds like there's optimism after all.
Trump presidency hasn't started yet and stock market is rasing already. I'm sure Barack will try to take credit for it.
There are no markets.
There are only rigged casinos pretending to be markets.
This fact must be kept secret so the little people will keep their retirement savings "invested" in the casino.
It is all rigged.
Get out while you have profits!
The market as some of you know is now a false market filled with left deception , it's failure is close , it has gained 16,000 since my first investment. I've never witnessed a market so vulnerable , the young people don't get it so it will climb until the $hit hits the fan very shortly.
It's just another way to try to oust the Trump. "Obama made it better "
it's a little like drinking or drugs , get ready for a wake-up with severe after effects like withdraw .
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