Dow, S&P 500, Nasdaq all end at records, oil shares gain -

Dow, S&P 500, Nasdaq all end at records, oil shares gain

Credit: channelnewsasia.com

  • About: 9 days ago
  • 2 views

NEW YORK: Wall Street stocks narrowly finished at records on Wednesday (Sep 13) after a bullish oil market forecast pushed petroleum-linked equities sharply higher.

For the second day in a row, all three major indices ended at new peaks, with the Dow Jones Industrial Average gaining 39.32 points (0.18 per cent) to 22,158.18.

The broad-based S&P 500 rose 1.89 points (0.08 per cent) to 2,498.37, while the tech-rich Nasdaq Composite Index advanced 5.91 points (0.09 per cent) to 6,460.19.

Energy producers and suppliers were boosted after the International Energy Agency lifted its 2017 forecast for oil demand and reported that global petroleum stocks had worked off much of their overhang.

Chevron led the blue-chip Dow index with a 1.5 per cent gain, while Apache climbed 4.5 per cent and Devon Energy jumped 4.2 per cent.

Retailers were another strong sector following news that big-box chain Target plans to hire 100,000 seasonal workers ahead of the Christmas shopping season. Target won 2.8 per cent, while Best Buy added 3.2 per cent and Costco Wholesale 1.8 per cent.

US stocks opened lower in a move attributed to profit-taking following gains the previous sessions. But investor sentiment remains modestly bullish based on expectations for solid economic data and corporate earnings, analysts said.

Boeing gained 0.6 per cent after announcing it will boost production of its 787 Dreamliner to 14 a month in 2019 from 12 now, a sign of strong demand for the energy-efficient jet.

American Airlines rose 1.5 per cent after reporting a solid financial performance through the end of August. However, the carrier warned that its performance for the fourth quarter would be pinched by Hurricane Irma, which closed its Miami hub and some 40 airports in Florida and the Caribbean.

Nordstrom rose 6.0 per cent following a report on business network CNBC that the department store chain was in talks with a private equity firm on financing to go private. 

Follow Us on Twitter

Related stories with Dow, S&P 500, Nasdaq all end at records, oil shares gain

Maribor grab late leveller to hold Spartak to 1-1 draw -World News
Maribor grab late leveller to hold Spartak to 1-1 draw 9 days ago
Slovenia's Maribor held Spartak Moscow to a 1-1 draw with a late equaliser by Damjan Bohar in their Champions League Group E match on Wednesday.
FedExCup Stats for Jordan Speith, Justin Thomas, and DJ -World News
FedExCup Stats for Jordan Speith, Justin Thomas, and DJ 9 days ago
Charlie Rymer and Robert Damron review the stats for the top three in the FedExCup Playoff standings.
Patrick Reed wore Notre Dame gear to Georgia game, and it caused a stir -World News
Patrick Reed wore Notre Dame gear to Georgia game, and it caused a stir 9 days ago
Patrick Reed isn’t one to hold back, and he definitely raised a few eyebrows this weekend. The Ryder Cup star took in a college football game Saturday, a pretty mundane fact without context. But context is everything here. Reed specifically flew out to
Spieth happy to finish second again - if he stays top of FedEx Cup standings -World News
Spieth happy to finish second again - if he stays top of FedEx Cup standings 9 days ago
Jordan Spieth would happily finish as runner-up for the third straight FedEx Cup play-off event in succession at the BMW Championship if it means he can stay top of the rankings. Spieth, who came second at the Northern Trust and the Dell Technologies Cham
Jason Day makes caddie change, keeps Colin Swatton as swing coach -World News
Jason Day makes caddie change, keeps Colin Swatton as swing coach 9 days ago
LAKE FOREST, Ill. -- Jason Day became the latest high-profile golfer to make a caddie change, saying that Colin Swatton will no longer be carrying his bag but will remain as his swing coach. Day, who has 10 PGA Tour victories, has suffered through a tryin
U.N. chief, Security Council call on Myanmar to end violence -World News
U.N. chief, Security Council call on Myanmar to end violence 9 days ago
UNITED NATIONS (Reuters) - U.N. Secretary-General Antonio Guterres and the U.N. Security Council on Wednesday urged Myanmar authorities to end violence against the majority-Buddhist country's Rohingya Muslims that has forced some 400,000 people to flee to
IOC crowns Paris 2024, Los Angeles 2028 in unique double -World News
IOC crowns Paris 2024, Los Angeles 2028 in unique double 9 days ago
LIMA (Reuters) - Paris was awarded the 2024 summer Olympics and Los Angeles the 2028 Games on Wednesday, as the International Olympic Committee (IOC) broke with decades of tradition to vote on a unique double allocation.
On Dessert: An Ideal Sundae -World News
On Dessert: An Ideal Sundae 9 days ago
Like many of life’s great things, ice cream concoctions are best when governed by rules.
Bihar panchayat imposes fine of Rs 31,000 on father of minor girl who was raped -World News
Bihar panchayat imposes fine of Rs 31,000 on father of minor girl who was raped 9 days ago
Police in Bihar’s southern Jamui district are probing allegations that a village panchayat convened to discuss the rape of a minor girl imposed a fine of Rs 31,000 on the victim’s father.
India submits written pleadings at International Court of Justice in Kulbhushan Jadhav case -World News
India submits written pleadings at International Court of Justice in Kulbhushan Jadhav case 9 days ago
India's written response was submitted to registrar Philippe Couvreur of the ICJ. The contents of the submission will not be made public.