The S&P 500 and Nasdaq inched to all-time highs on Wednesday, extending a record-setting run as investors' optimism about the global economy ...
REUTERS: The S&P 500 and Nasdaq inched to all-time highs on Wednesday, extending a record-setting run as investors' optimism about the global economy remained strong, while a steep drop in FedEx shares limited further gains.
"The trade truce with China has really set the backdrop for a continued move higher to the end of the year," said Chris Zaccarelli, Chief Investment Officer, Independent Advisor Alliance, Charlotte, North Carolina.The benchmark S&P 500 hit its fifth consecutive record high on Wednesday, its longest streak since January 2018.However, holding back gains on the index was a near 10per cent drop in FedEx shares after the U.S.
The market has also largely shrugged off the almost certain impeachment of President Donald Trump as the House of Representatives gears up for a historic vote later in the day on two charges accusing him of abusing his power and obstructing Congress. At 11:57 a.m. ET the Dow Jones Industrial Average was up 1.44 points, or 0.01per cent, at 28,268.60, the S&P 500 was up 2.41 points, or 0.08per cent, at 3,194.93 and the Nasdaq Composite was up 19.75 points, or 0.22per cent, at 8,843.11.
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