US Stock Markets Today: Dow Jones, S&P 500 Hover Near Record Highs
The 30-stock Dow Jones Industrial Average gained 0.1%, or 41 points, to 42,192.
US stocks opened marginally higher on Wednesday to extend gains for the third day as investors await new data on the economy while China's latest stimulus push does little to excite.
The 30-stock Dow Jones Industrial Average gained 0.1%, or 41 points, to 42,192, while the tech-heavy Nasdaq Composite was up 0.1% to tread near 18,100.
The S&P 500 advanced 0.1% to 5,741, a new high. Six of the eleven sectoral indices were trading in green, with information technology and telecommunications seeing gains while energy and consumer discretionary led declines.
Among major companies, shares of Hewlett Packard Enterprise Inc. advanced more than 5% following an upgrade from Barclays. Nvidia Corp. rose over 2% and Intel Inc. jumped 1%.
General Motors Co. tanked over 6% and Ford Motor Co. by 5% after Morgan Stanley cut the auto industry view to neutral.
The yield on the 10-year Treasury bond was up four basis points to 3.77%.
The US dollar wavered against major currencies. The Bloomberg Dollar Index was down 0.15% at 100.32.
Spot gold prices gained 0.5% to $2,670.6 an ounce, a new record.
International benchmark Brent oil dropped 2% to $73.53 per barrel.
US mortgage rates dropped once more last week, leading to an increase in home-purchase applications and highlighting a rising demand in the housing market. The interest rate for the most popular home loan fell to 6.13%, the lowest level in nearly two years. This decline also spurred a surge in refinancing activity, according to data from the Mortgage Bankers Association released on Wednesday.
Upcoming US economic data includes new home sales for August, due out on Wednesday morning, and weekly jobless claims on Thursday, CNBC reported.
