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Wall Street notches gains on a choppy session, S&P 500 eyes 3,300s

  • S&P 500 index added11.90 points, or 0.4%, to 3,306.51,
  • The Nasdaq Composite Index ended 38.37 points higher, or 0.4%, to close at 10,941.17.
  • Dow Jones Industrial Average DJI rose 0.62% to end at 26,828.47 points.

US benchmarks were choppy on Tuesday but that did not prevent that Nasdaq Composite extending its all-time highs. 

Wall Street was able to follow suit of overnight bullishness as global equity markets climbed higher, with the US buoyed by stronger data and company earnings. 

However, there was still no resolution to the deadlock between congressional Democrats and Republicans on a fresh fiscal relief package for Americans.

There were some additional concerns owing to the TikTok situation which continues to dampen the mood of the markets and certainly isn’t helping US-China relationships. 

However, sone after the bell headlines surrounding a possible meeting between the US and China on the 15th  August should help to support a positive mood for Asian in this regard.

Meanwhile, the S&P 500 index added11.90 points, or 0.4%, to 3,306.51, near its intraday peak which raises prospects of the 3,300 being achieved in coming days.

The Nasdaq Composite Index ended 38.37 points higher, or 0.4%, to close at 10,941.17, also near its highs of the session.

The Nasdaq notched its 30th record close of 2020.

Lastly, the Dow Jones Industrial Average DJI rose 0.62% to end at 26,828.47 points.

Meanwhile, as for US data, the manufacturing was trending up with June factory orders in the US lifted 6.2% MoM that indicated a steady recovery in the manufacturing sector.

The lift was stronger than anticipated and follows a 7.7% lift in the previous month. Durable orders gained 7.6% m/m while core manufacturing was up 3.4% m/m. 

S&P 500 levels

 

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