Economy

Stocks mixed even as S&P 500 index marks longest bull run

Stocks mixed even as S&P 500 index marks longest bull run”

The Dow Jones Industrial Average has appreciated about 300 percent.

Analysts were looking ahead to an appearance on Friday by Federal Reserve Chair Jerome Powell at an annual central banker conference in Jackson Hole, Wyoming. Microsoft is second, with a 2.4 percent contribution, according to Silverblatt.

The longest bull run in American stock market history was confirmed yesterday amid turmoil in the White House and the growing threat of a trade war between the United States and China.

Stocks traded mostly in a narrow range for much of the day Wednesday.

On Wednesday, the S&P 500 dipped 1 point to 2,861 for the day while the Dow Jones Industrial Average fell 88 points, or 0.3%, to 25,733 and the Nasdaq composite rose 29 points, or 0.4%, to 7,889. The S&P 500 hit bottom on March 9, 2009 when it closed at just 676.

The small-cap Russell 2000 index .RUT , which is less affected by global tariff disputes than its large-cap peers, jumped to a record high.

US benchmark crude climbed 3.1 percent to $67.87 per barrel in NY. Seoul's Kospi shed 0.1 percent to 2,271.56 and Sydney's S&P-ASX 200 retreated 0.2 percent to 6,253.00.

Stocks are rising in morning trading as technology companies climb and oil prices continue to rally, leading energy companies higher.

Shares of Hartford Financial Services Group Inc dropped 4.2 per cent after the insurer said it will buy Navigators Group Inc in a US$2.1 billion cash deal.

And on the earnings side, notable retail names set to report results include Ross Stores (ROST) and The Gap (GPS), while other companies schedule to release earnings include HP (HPQ), Intuit (INTU), Hormel (HRL), and Autodesk (ADSK).

An inverted yield curve - in which yields on two-year Treasury bonds surpass yields on 10-year Treasury bonds - has historically been a reliable indicator of a recession, and the yield curve has been relatively flat in recent quarters.

The dollar rose to 110.57 yen from 110.40 yen late Tuesday. The materials index rose 0.68 percent. The euro declined to $1.1554 from $1.1595. The VIX Volatility Index was lower at 12.25 for a loss of -0.61 points or -4.74%.

Apple rose 0.1 percent to 215.60 after BofA Merrill Lynch raised its price objective on the iPhone maker to $250. South Korea's Kospi rose 0.1 percent.



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