Dow closes at record high in its longest rally since March, S&P 500 ends at fresh peak

dow-closes-at-record-high-in-its-longest-rally-since-march,-s&p-500-ends-at-fresh-peak

The Dow Jones Industrial Average closed at a record high Wednesday, as investors pushed the blue-chip-stocks index to a sixth straight day of gains for its longest winning streak since March. The Dow DJIA, +0.25% closed around 0.3% higher in a day of mixed trade that saw the S&P 500 index SPX, +0.14% rise about 0.1% to an all-time closing high and the technology-laden Nasdaq Composite COMP, -0.10% finish about 0.1% lower, according to preliminary data from FactSet. High-growth tech stocks tend to be sensitive to rising rates. The yield on the 10-year Treasury note TMUBMUSD10Y, 1.556% climbed to 1.542% Wednesday, the highest since Nov. 24 based on trading levels at 3 p.m. Eastern Time, according to Dow Jones Market Data. Investors traded amid omicron variant concerns and fresh economic data showing the U.S. trade deficit in goods surged to an all-time high in November, a trade gap that largely reflected faster improvement in the world’s largest economy compared to most other countries in the pandemic.

Source: Marketwatch

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