Wall Street at Record Levels On Trade Hopes, Robust Economic Data

Wednesday, 27 November 2019 23:29 WIB

Wall StreetSaham AS


Wall Street’s main indexes notched fresh record highs on Wednesday, as latest data pointed to a resilient domestic economy and investors remained optimistic about a resolution to the prolonged U.S.-China trade war.

Data showed growth picked up slightly in the third quarter, rather than slowing as initially reported, while U.S. consumer spending rose steadily in October, suggesting the economy will probably maintain its moderate pace of expansion in the fourth quarter.

The data added to the upbeat mood on a trade deal, fueled by comments on Tuesday from President Donald Trump that the United States was in the “final throes” of work on an agreement.

The three major U.S. stock indexes have hit record highs this month on expectations of a trade truce and fairly solid third-quarter earnings.

At 10:05 a.m. ET, the S&P 500 was up 4.21 points, or 0.13%, at 3,144.73 and the Nasdaq Composite was up 26.91 points, or 0.31%, at 8,674.84. But the Dow Jones Industrial Average was down 21.34 points, or 0.08%, at 28,100.34, weighed down by Boeing Co.

Source : Reuters


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