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On Wednesday, the S&P 500 as well as the Nasdaq reached record maximums for the fourth straight session in a surge led by technology businesses because market sentiment was backed by optimism over everlasting trade talks.
Apple Inc led the technology sector's jump because the iPhone maker's equities reached an all-time maximum. The sector pushed all three key American indexes up.
Besides this, the FAANG group of momentum equities was also boosted by Morgan Stanley's price target leaps for Amazon.com as well as Alphabet Inc. The remaining FAANG equities, Netflix Inc and Facebook dived a bit.
The Commerce Department uncovered its second reading of second-quarter GDP, disclosing that the American economy rallied at an upwardly-updated annual rate of about 4.2% in the quarter, which is its best performance for almost four years.
Moreover, the Dow Jones Industrial Average rallied by 0.21% hitting 26,119.37. As for the S&P 500, it managed to jump by 0.49% showing 2,911.83. The Nasdaq Composite soared by 0.84% coming up with 8,097.58.
Of the 11 key sectors of the S&P 500, 7 found themselves in positive territory. As for the largest percentage profits, they were observed in the consumer discretionary as well as technology sectors.
By the way, consumer discretionary equities were boosted by Amazon.com's 3% jump.
Restaurant operator Yum China Holdings Inc managed to extend its surge. It added 5.2% having rejected a $17.6 billion buy-out bid from China’s consortium.
The equities of American Eagle Outfitters Inc went down by 7% having posted gloomy second quarter outcomes.
As for other specialty apparel retailers, they inched down too.
On the NYSE, advancing issues managed to outclass diving ones by a 1.68-to-1 ratio.
The S&P 500 reported 58 fresh 52-week maximums as well as 1 fresh minimum. The Nasdaq Composite demonstrated 101 fresh maximums and 20 new minimums.
On Monday, US stocks surged because dives in Boeing and Facebook held profits in check and traders closely watched this week's Fed gathering for affirmation of the major financial institution’s commitment to patient monetary stance…
On Friday, European equities went up, breaching a five-month maximum recorded yesterday because market participants cheered upbeat signals over US-China trade negotiations and after British lawmakers underpinned a delay of a chaotic departure from the EU…
On Friday, Asian equities surged because market sentiment got better on a report that more progress has been achieved in US-China trade negotiations and after British lawmakers decided to postpone a potentially chaotic departure from the European bloc…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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