Dow surges 346 points as trade worries ease
Stocks rallied Wednesday with the Dow Jones Industrial Average posting a triple-digit gain, boosted by gains in the industrial and financial sectors.
The Dow added 346.41 points, or 1.4%, to 25,146.39. The S&P 500 rose 23.55 points, or 0.86%, to 2,772.35. The Nasdaq Composite climbed to another record high, gaining 51.38 points, or 0.67%, to 7,689.24.
Industrial names were climbing as investors shrugged off mixed reports on trade ahead of the G7 meeting, while financials were boosted by the 10-year Treasury yield approaching a two-week high.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
JPM | JPMORGAN CHASE & CO. | 200.31 | +0.79 | +0.40% |
CAT | CATERPILLAR INC. | 366.38 | +1.70 | +0.47% |
BA | THE BOEING CO. | 192.99 | +1.04 | +0.54% |
The yield increased in anticipation that the Federal Reserve will hike rates when it meets next week.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
SP500 | S&P 500 | 5254.35 | +5.86 | +0.11% |
I:DJI | DOW JONES AVERAGES | 39807.37 | +47.29 | +0.12% |
I:COMP | NASDAQ COMPOSITE INDEX | 16379.458265 | -20.06 | -0.12% |
On Wednesday, both the Nasdaq and the Russell 2000 touched all-time highs while the Dow climbed back above 25,000. Dow components Microsoft, Visa and Nike touched record highs.
Economic data released Wednesday included the April trade deficit, which fell to a 7-month low as exports set a record. First-quarter productivity was revised to a 0.4% annual pace compared to the 0.7% originally reported.
Oil futures fell 1.2% to $64.73 a barrel, while gold futures were little changed.