US Stock Markets Today: S&P 500, Dow Jones Rise As Japan Trade Deal Boosts Sentiments At Wall Street
Spot gold was trading 0.55% lower at $3412.82 an ounce, and Brent crude oil was trading 0.69% lower at $68.13 per barrel.
S&P 500 and Dow Jones Industrial Average pared previous day's losses to rise 0.4% and 0.3% respectively after the US announced a trade deal with Japan late on Tuesday. The Nasdaq Composite opened lower but quickly erased losses to trade in the green.
The S&P 500 rose to 6,330.14 and tech-heavy Nasdaq Composite rose 0.18% to 20,929. Dow climbed to 44,502.44.
The trade deal with Japan materialised in the late hours of Tuesday with 15% tariffs being imposed on the country. Japan's trade negotiator called the deal "beneficial for both Japan and US", according to Bloomberg.
The S&P 500 had closed above 6,300 for the first time on Monday. The Nasdaq, similarly, had hit a record high of 23,264, rising 0.86% in trade.
Shares of Nvidia Corp, Boeing Co., JPMorgan Chase &Co., Goldman Sachs Group Inc., and Walt Disney contributed to the rally while those of McDonald's Corp., Coca Cola Co., Apple Inc., and Microsoft declined.
Nine out of the 11 S&P 500 sectoral indices were trading in the green, while two edged lower against the previous day's close. The Consumer Staples sector along with Communication Services were the laggards on the index.
As the US market opened, spot gold was trading 0.55% lower at $3412.82 an ounce, and Brent crude oil was trading 0.69% lower at $68.13 per barrel.
The Bloomberg Dollar Index was little changed. The British pound too was little changed at $1.3530, along with the Japanese yen at 146.60 per dollar.
Bitcoin, the largest traded cryptocurrency, fell 1.4% to $118,060.05.
