US close: Markets finish higher as investors keep eye on yields
US stocks finished higher on Wednesday, as investors appeared to shrug off ongoing trade fears and a flashing recession indicator in focus.
Dow Jones I.A.
37,986.40
04:30 15/10/20
Nasdaq 100
17,037.65
12:15 19/04/24
The Dow Jones Industrial Average ended the session up 1% at 26,036.10, the S&P 500 added 0.65% to 2,887.94, and the Nasdaq 100 was 0.29% firmer at 7,587.90.
At the open, the Dow was 34.81 points firmer, after closing lower on Tuesday amid ongoing negativity around Washington's trade war with Beijing, which weighed on investor sentiment.
Futures before the session on Wednesday initially had stocks opening markedly lower after the closely watched spread between the 10-year Treasury yield and the two-year rate fell to minus six basis points early in the morning.
That extended losses from the previous session which saw the spread record its lowest level in a dozen years.
A 10-year rate below the two-year yield is considered by many fixed income traders to be an important recession prognosticator in the United States.
Trade fears were also in the spotlight, with the White House set to impose its first stage of tariffs on $300bn-worth of Chinese goods on Sunday.
Beijing was scheduled to retaliate with its own tariffs on the same day.
On the corporate front, makeup and fragrance company Coty saw shares gain 6.02%, even after it reported a wider quarterly loss as a result of a $3bn writedown in the value of its consumer beauty brands.
Tiffany & Co shares advanced 3.02% on the back of its own numbers.
Californian cloud content management firm and file sharing service Box was up 1.1% at the closing bell, but slid more than 7% in after-hours trading as it released its set of figures.
There were no major data points scheduled for release.
Dow Jones - Risers
Pfizer Inc. (PFE) $35.08 2.15%
Unitedhealth Group Inc. (UNH) $227.35 1.98%
United Technologies Corp. (UTX) $126.87 1.85%
Nike Inc. (NKE) $83.48 1.77%
Home Depot Inc. (HD) $221.95 1.71%
Walt Disney Co. (DIS) $136.55 1.53%
Boeing Co. (BA) $359.97 1.48%
Verizon Communications Inc. (VZ) $57.96 1.35%
Caterpillar Inc. (CAT) $114.86 1.31%
International Business Machines Corp. (IBM) $132.76 1.21%
Dow Jones - Fallers
Johnson & Johnson (JNJ) $128.69 -0.74%
Travelers Company Inc. (TRV) $146.36 -0.50%
Microsoft Corp. (MSFT) $135.56 -0.13%
Intel Corp. (INTC) $45.79 0.00%
Dowdupont Inc. (DWDP) $30.52 0.00%
Visa Inc. (V) $178.67 0.16%
Cisco Systems Inc. (CSCO) $46.87 0.17%
Walmart Inc. (WMT) $112.72 0.27%
Apple Inc. (AAPL) $205.53 0.67%
Procter & Gamble Co. (PG) $121.41 0.71%
S&P 500 - Risers
Cimarex Energy Co (XEC) $41.60 10.55%
Coty Inc. Class A (COTY) $9.33 6.02%
Diamondback Energy Inc. (FANG) $96.63 4.61%
Halliburton Co. (HAL) $18.00 3.99%
National Oilwell Varco Inc. (NOV) $19.17 3.85%
Philip Morris International Inc. (PM) $74.32 3.65%
Westrock Company (WRK) $33.48 3.62%
American Airlines Group (AAL) $25.33 3.60%
Marathon Oil Corp. (MRO) $11.94 3.56%
Hewlett Packard Enterprise (HPE) $13.37 3.40%
S&P 500 - Fallers
Autodesk Inc. (ADSK) $140.08 -6.74%
Fortinet Inc. (FTNT) $78.00 -3.54%
Ansys Inc. (ANSS) $204.14 -3.27%
Adobe Systems Inc. (ADBE) $282.13 -2.53%
Everest Re Group Ltd. (RE) $239.43 -2.46%
Edison International (EIX) $71.78 -2.11%
Electronic Arts Inc. (EA) $92.40 -1.76%
Activision Blizzard Inc. (ATVI) $50.21 -1.72%
Cooper Cos Inc. (COO) $320.97 -1.66%
NextEra Energy Inc. (NEE) $221.19 -1.26%
Nasdaq 100 - Risers
American Airlines Group (AAL) $25.33 3.60%
Dish Network Corp. (DISH) $33.44 3.31%
J.B. Hunt Transport Services Inc. (JBHT) $103.97 3.29%
Dollar Tree Inc (DLTR) $99.60 2.95%
eBay Inc. (EBAY) $40.09 2.79%
Monster Beverage Corp (MNST) $58.08 2.67%
Mylan Inc. (MYL) $19.15 2.57%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $330.38 2.04%
Align Technology Inc. (ALGN) $177.31 2.02%
Regeneron Pharmaceuticals Inc. (REGN) $286.90 1.95%
Nasdaq 100 - Fallers
Autodesk Inc. (ADSK) $140.08 -6.74%
Adobe Systems Inc. (ADBE) $282.13 -2.53%
NetEase Inc. Ads (NTES) $250.49 -2.36%
Electronic Arts Inc. (EA) $92.40 -1.76%
Activision Blizzard Inc. (ATVI) $50.21 -1.72%
Workday, Inc. (WDAY) $185.31 -1.61%
Biomarin Pharmaceutical Inc. (BMRN) $73.69 -1.33%
Illumina Inc. (ILMN) $281.62 -1.19%
Mercadolibre Inc. (MELI) $588.15 -1.01%
Check Point Software Technologies Ltd. (CHKP) $105.78 -0.88%