The Dow Jones Industrial Average (DJIA) started the trading week at 25,026.70 on Monday and closed on Friday with 26,616.61 while the S&P 500 had an opening high of 2,804.90 on Tuesday and ended up closing near its record high of 2731 set in May this year before falling slightly to 2727 by market close

The Dow Jones Industrial Average (DJIA) and the Standard & Poor’s 500 Index (S&P 500) both closed at record highs in Wednesday’s trading session. Read more in detail here: dow jones.

Stocks in the United States gained on Wednesday, with the S&P 500 and Dow Jones Industrial Average set to set new highs.

The S&P 500 gained 0.4 percent, extending its winning streak to six sessions, while the Dow gained 0.6 percent. Both will conclude with fresh highs if those gains hold until the closing bell. The Nasdaq Composite Index, which is heavily weighted in technology, gained 0.1 percent.

Investors are sifting through business earnings reports in search of new information on the consequences of inflation and supply-chain disruptions. Verizon’s stock rose 2.4 percent after the telecoms behemoth boosted its full-year forecast. Biogen’s stock jumped 0.2 percent after the firm raised its full-year revenue and profit expectations. After the markets close, Tesla and IBM are expected to post profits.

Stocks have risen in recent days as a result of positive earnings announcements. Problems like as labor shortages and rising raw material costs haven’t had a significant impact on earnings. 

According to Carol Schleif, deputy chief investment officer at BMO Family Office, this gives investors incentive to look beyond supply-chain difficulties and focus on the quality of these companies. The results, she added, demonstrate firms’ endurance in the face of enormous expectations over the last year and a half. “It’s not something we celebrate all that frequently,” she remarked.

Investors will be looking for an update on the worldwide chip scarcity and huge corporations’ potential to raise prices to consumers, according to Kiran Ganesh, a multiasset strategist at UBS Global Wealth Management.

Mr. Ganesh said, “Earnings have been really solid so far across a very wide spectrum of organizations.” Investors are searching for evidence of margin pressure and concerns about input prices, but he said that “we haven’t noticed too much anxiety” thus far.

Netflix’s stock has dropped by 2.1 percent. In the latest quarter, the firm attracted more new users than planned, but its co-chief executive apologized for backing Dave Chappelle’s controversial comedy spectacular. 

After a revelation that the pharmaceutical business was having trouble making a Covid-19 vaccine that passed regulators’ quality criteria, Novavax’s stock dropped 11%. 

The yield on the benchmark 10-year Treasury note climbed to 1.673 percent, matching a record reached in May. It was 1.637 percent in the afternoon, up from 1.634 percent the day before. When bond prices fall, yields climb.

Mr. Ganesh believes that higher bond rates make equities less appealing, particularly at their present high valuations. “If bonds begin to return anything substantial, it weakens the ‘no alternatives’ justification for stocks.”

“We aren’t quite there yet, but as we go, investors will get more concerned,” he continued. 

A bitcoin mining operation in upstate New York is powered by the Niagara River and uses energy from a nearby hydroelectric plant.

According to CoinDesk, bitcoin struck a new all-time high on Tuesday, trading as high as $66,975, after the first bitcoin futures exchange-traded fund started trading. This month, the cryptocurrency has increased by more than 50%.

Afternoon oil prices reversed a morning decline. Crude oil in the United States increased by 0.7 percent to $82.97. Crude prices have been dragged down by falls in commodities such as coal and electricity, according to traders. In addition, a measure of US stocks came in higher than predicted, indicating decreased oil demand. 

Overseas, the Stoxx Europe 600 index increased by 0.3 percent. Nestlé’s stock rose 2.7 percent after the Swiss food giant raised its full-year sales forecast. Credit Suisse’s stock dropped 1.7 percent after it confessed to misleading investors over a Mozambican transaction. The bank’s attempts to spy on executives were larger than previously acknowledged, according to Switzerland’s financial regulator, and they violated supervisory rules.

Major Asian benchmarks were mixed. The Shanghai Composite Index fell 0.2 percent, while the Hang Seng Index in Hong Kong surged 1.4 percent.

Dow-SP-Trade-Near-Closing-Records

Tesla’s stock increased slightly on Wednesday, ahead of the company’s earnings announcement.

Bloomberg News/Bloomberg News/David Paul Morris

Write to Anna Hirtenstein and Paul Vigna at [email protected] and [email protected], respectively.

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The “dow jones today” is a news organization that provides information on the Dow Jones Industrial Average. The company has reported that the stock market traded near closing records.

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