Stocks continue their record run
Stocks rose Wednesday with the Dow Jones Industrial Average setting an all-time high for the second consecutive day.
The Dow rose 54.45, or 0.2 percent, to 26,828.39. The S&P 500 edged 2.08 points higher to 2,925.51. The Nasdaq Composite gained 25.54 points, or 0.32 percent, to 8,025.08.
The new trade agreement reached Monday between the U.S., Canada and Mexico has boosted investors’ sentiment this week.
Three companies, Boeing, Caterpillar and Goldman Sachs, accounted for more than half of the Dow’s gain on Wednesday. The major stock market index is closing in on 27,000.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 37827.74 | -633.18 | -1.65% |
| SP500 | S&P 500 | 5006.32 | -65.31 | -1.29% |
| I:COMP | NASDAQ COMPOSITE INDEX | 15455.25635 | -257.49 | -1.64% |
Economic data released Wednesday included the ADP report on private sector hiring. ADP reported 230,000 private-sector jobs were added in September.
After the ADP report, the 10-year Treasury yield hit 3.15 percent, its highest in more than seven years. The steepening yield curve boosted financial stocks.
The IHS Markit final services index, released Wednesday, fell to 53.5 in September from 54.8 in August. A reading above 50 indicates growth.
Commodities were mixed, with oil continuing to hover near a multi-year high. U.S. crude closed at its highest level since November 21, 2014, rising 1.6 percent to $76.41 per barrel.
Fox Business' Ken Martin contributed to this report.