Stocks Traded Slightly Lower at The Open as Wall Street's Bull Market Record Run Hits 3,453 Days

Wednesday, 22 August 2018 21:04 WIB

DOW JONESS & P 500SahamASNasdaq Composite


U.S. stocks on Wednesday saw subdued action in early trade as investors awaited minutes from a gathering of the Federal Open Market Committee earlier this month that might offer fresh insights about monetary policy. Investors also wrestled with Tuesday's news, which included former Trump campaign chairman Paul Manafort being found guilty on eight charges including tax fraud, and the president's former lawyer Michael Cohen admitting to violating campaign-finance law at President Donald Trump's direction, against the backdrop of solid quarterly results thus far.

The Dow Jones Industrial Average was trading flat at 25,824, but tilting slightly higher, the S&P 500 index was little changed at 2,862, about 10 points from a record last hit on Jan. 26. The Nasdaq Composite Index advanced less than 0.1% at 7,864. All three benchmarks finished Tuesday's session in the green and the small-capitalization Russell 2000 index and the Dow Jones Transportation Average both ended at all-time highs, underscoring brewing optimism about stocks, despite worries about tariff battles between the U.S. and other global trade partners and drama in the White House. In corporate news, shares of Target Corp. % and Lowe's Cos. were in focus after reporting their quarterly results before the open. Later Wednesday, the FOMC will release minutes of its policy meeting at 2 p.m. Eastern Time.

Source : Marketwatch




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