Main US indexes end up; Dow out front, up >1%
Healthcare leads S&P sector gainers; Utilities weakest group
Dollar down; bitcoin, gold both off >1%; crude up slightly
U.S. 10-Year Treasury yield rises to ~4.39%
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
S&P 500, NASDAQ HIT FRESH CLOSING HIGHS BUT DOW JUST SHY OF RECORD
The S&P 500 .SPX and Nasdaq .IXIC registered record closing highs on Wednesday, as investors seemed relieved over trade-related news, but the Dow .DJI just missed finishing at a record, ending down just 0.01% from its December 4, 2024 record finish.
It was the 12th record closing high of the year for the S&P 500 and the 13th for the Nasdaq.
The European Union and the U.S. are moving toward a trade deal that could include a 15% U.S. baseline tariff on EU goods and possible exemptions, two European diplomats said on Wednesday. This would come on the heels of a U.S.-Japan deal announced on Tuesday.
There remains an August 1 deadline looming on the trade front.
Earnings season is also in full swing, with shares of power equipment maker GE Vernova GEV.N up 14.6% and among the biggest boosts to the S&P 500 after it raised its full-year free cash flow forecast and beat Wall Street estimates for second-quarter profit.
Alphabet GOOGL.O ended the session down 0.6% and Tesla TSLA.O ended up 0.1% ahead of their quarterly results, which were due after the closing bell.
Here is the closing market snapshot:
(Caroline Valetkevitch)
*****
EARLIER ON LIVE MARKETS:
NOW IT'S TIME FOR THE MAG 7 TO START TO REPORT CLICK HERE
AS INVESTORS MULL OVER VALUATIONS, WFII REMAINS OVERWEIGHT ON STOCKS CLICK HERE
HOUSE PARTY: EXISTING HOME SALES, MORTGAGE DEMAND CLICK HERE
SOME MARKET RELIEF AFTER JAPAN TRADE DEAL CLICK HERE
DEAR DOW INDUSTRIALS, WE REQUEST THE HONOR OF YOUR PRESENCE... CLICK HERE
UBS STICKS WITH BANKS: "THE NEW CONSUMER STAPLES" CLICK HERE
LESS US IMMIGRATION HAS MILD STAGFLATIONARY CONNOTATIONS CLICK HERE
STOXX GETS AUTOS AND DRUGS BOOST, TECH DRAGS CLICK HERE
BEFORE THE BELL: JAPAN DEAL BOOSTS AUTOS, EARNINGS IN FOCUS CLICK HERE
SURPRISE JAPAN TRADE DEAL GETS OTHERS' HOPES UP CLICK HERE
closer https://tmsnrt.rs/453HsFN
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.