Stocks climbed to record highs Wednesday as investors sifted through positive news on the U.S. economy, a number of corporate earnings reports and two high-profile forthcoming stock splits.
Ticker Security Last Change Change %
SP500 S&P 500 3478.73 +35.11 +1.02%
I:COMP NASDAQ COMPOSITE INDEX 11665.060312 +198.59 +1.73%
The S&P 500 and the Nasdaq Composite notched records, rising 1.02% and 1.73%, respectively, on the way to their longest streak of all-time highs this year. The S&P has finished in record territory the past four sessions while the Nasdaq extended its record run to five days.
Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 28331.92 +83.48 +0.30%
XOM EXXON MOBIL CORPORATION 40.01 -0.87 -2.13%
The Dow Jones Industrial Average, meanwhile, rose 0.30%, or 84 points, despite losses from Exxon Mobil, which is set to be removed from the index on Monday.
Positive economic data helped drive the broader gains as durable goods orders jumped 11.2% month-over-month in July, outpacing the 4.3% increase that analysts surveyed by Refinitiv were expecting. Durable goods excluding transportation, a category where big-ticket items can skew data, rose 2.4%, also topping estimates.
Ticker Security Last Change Change %
AAPL APPLE INC. 506.09 +6.79 +1.36%
TSLA TESLA INC. 2,153.17 +129.83 +6.42%
Looking at stocks, Apple Inc. shares received a $600 price target, up from $515, at Wedbush Securities, due to the upcoming supercycle that will see 350 million iPhones become eligible for an upgrade to the iPhone 12.
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