US close: Stocks continue record run amid slew of data
Stocks on Wall Street finished in the green on Wednesday, continuing the record run seen in previous sessions.
The Dow Jones Industrial Average finished up 0.09% at 22,661.54, the S&P 500 was up 0.12% at 2,537.74 and the Nasdaq 100 closed 0.06% firmer at 5,998.84.
“After kicking off the week with two record closes, US indices are currently seen opening marginally lower as we prepare for speeches from Federal Reserve Chair Janet Yellen and ECB President Mario Draghi,” said Oanda analyst Craig Erlam earlier in the session.
"While the two central banks are in very different phases of the tightening cycle, both heads are facing very similar problems in that there is a strong desire within the banks to become less accommodative before the end of the year but the data is making life difficult.
“Inflation in particular is a massive headache for many central banks around the world, with the normal models proving ineffective in determining when it will return to target."
On the economic front, Wednesday's data releases came in firmly ahead of economists' forecasts.
The ISM institute's service sector purchasing managers' index rose from a reading of 55.3 for August to 59.8 in September, against a consensus forecast for 55.1.
Ahead of Friday's non-farm jobs report, private consultancy ADP reported that US private payrolls rose by 135,000 in September, missing a consensus for 138,000, as hurricanes Harvey and Irma began to impact the US Gulf of Mexico.
Nevertheless, some economists warned the impact from the storms wouldn't be fully apparent until October.
Meanwhile in the corporate space, electric car maker Tesla rose 1.97% after Nomura initiated coverage of the stock at 'buy'.
Office Depot was in focus as well, losing 17.65% after saying late on Tuesday that it was cutting its 2017 profit guidance and announcing the acquisition of CompuCom for $1bn.
Amazon.com was also in the spotlight, rising 0.87% as the EU antitrust regulator ordered the company to repay $293m in back taxes after claiming it had been given an unfair tax advantage.
Verizon Communications rose 0.1% after announcing late on Tuesday that every Yahoo account was hit in a 2013 hack.
PepsiCo stock gained 0.19% after its third-quarter earnings beat, while Mylan surged after it got approval from the Food and Drug Administration for a drug for multiple sclerosis.
Dow Jones - Risers
Nike Inc. (NKE) $52.08 1.19%
Caterpillar Inc. (CAT) $126.74 0.98%
Unitedhealth Group Inc. (UNH) $200.46 0.93%
3M Co. (MMM) $216.51 0.91%
Coca-Cola Co. (KO) $45.53 0.69%
Johnson & Johnson (JNJ) $132.89 0.60%
Microsoft Corp. (MSFT) $74.69 0.58%
Merck & Co. Inc. (MRK) $64.61 0.36%
Procter & Gamble Co. (PG) $92.42 0.33%
McDonald's Corp. (MCD) $157.22 0.22%
Dow Jones - Fallers
General Electric Co. (GE) $24.48 -1.29%
Cisco Systems Inc. (CSCO) $33.44 -1.21%
JP Morgan Chase & Co. (JPM) $96.36 -1.02%
Apple Inc. (AAPL) $153.48 -0.65%
Goldman Sachs Group Inc. (GS) $240.31 -0.54%
Pfizer Inc. (PFE) $35.96 -0.50%
American Express Co. (AXP) $91.01 -0.46%
Visa Inc. (V) $105.30 -0.27%
Walt Disney Co. (DIS) $100.51 -0.24%
International Business Machines Corp. (IBM) $146.48 -0.20%
S&P 500 - Risers
Mylan Inc. (MYL) $37.80 16.20%
TripAdvisor Inc. (TRIP) $43.40 3.73%
Entergy Corp. (ETR) $78.41 3.61%
Netflix Inc. (NFLX) $184.45 2.94%
Dentsply International Inc. (XRAY) $57.21 2.80%
Dollar Tree Inc (DLTR) $89.05 2.57%
Crown Castle International (CCI) $101.89 2.25%
Royal Caribbean Cr (RCL) $121.69 2.24%
Helmerich & Payne Inc. (HP) $51.14 2.24%
Macerich Co (MAC) $56.48 2.21%
S&P 500 - Fallers
Tenet Healthcare Corp. (THC) $15.69 -5.02%
Republic Services Inc. (RSG) $63.31 -4.87%
Advance Auto Parts (AAP) $94.93 -4.09%
Waste Management Inc. (WM) $76.33 -3.72%
H&R Block Inc. (HRB) $25.70 -3.35%
L Brands Inc (LB) $41.36 -3.18%
Frontier Communications Co. (FTR) $12.26 -2.70%
Southwestern Energy Co. (SWN) $6.13 -2.24%
Ryder System Inc. (R) $83.00 -2.19%
Micron Technology Inc. (MU) $39.56 -2.01%
Nasdaq 100 - Risers
Mylan Inc. (MYL) $37.80 16.20%
Netflix Inc. (NFLX) $184.45 2.94%
Dentsply International Inc. (XRAY) $57.21 2.80%
Dollar Tree Inc (DLTR) $89.05 2.57%
Sirius XM Holdings Inc (SIRI) $5.73 2.32%
Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $55.98 2.28%
Viacom Inc. Class B (VIAB) $28.14 2.14%
Tesla Inc (TSLA) $355.01 1.97%
Idexx Laboratories Inc. (IDXX) $157.41 1.95%
Ctrip.Com International Ltd. Ads (CTRP) $55.49 1.78%
Nasdaq 100 - Fallers
Liberty Global plc Series A (LBTYA) $32.10 -3.34%
Liberty Global plc Series C (LBTYK) $30.99 -3.25%
JD.com, Inc. (JD) $38.34 -2.22%
Micron Technology Inc. (MU) $39.56 -2.01%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $223.52 -1.80%
Tractor Supply Company (TSCO) $62.19 -1.58%
Activision Blizzard Inc. (ATVI) $62.63 -1.29%
Liberty Interactive Corporation QVC Group (QVCA) $23.28 -1.27%
Walgreens Boots Alliance, Inc. (WBA) $75.83 -1.25%
Baidu Inc. (BIDU) $243.97 -1.23%