Thanksgiving comes early to Wall Street, indices hit new record highs

NEW YORK, New York – All the major indices in the U.S. put in record-breaking performances for the third day in a row on Wednesday.

The U.S. Federal Reserve’s Beige Book report revealed the U.S. economy growing modestly, and the outlook stable.

“From a macro perspective it really sits with the narrative of this growing but continue to slow environment,” Bill Northey senior investment director at U.S. Bank Wealth Management in Minneapolis told Reuters Thomson.

“It averted some of the greater concerns that this might be something more than just a slowdown to trend that we’ve been facing over the past quarter.”

The U.S. dollar was mixed, losing ground to sterling, but making sharp gains against the yen.

Trading was quiet ahead of the Thanksgiving Holiday.

At the close of trading Wednesday, the Dow Jones Industrial Average was ahead 42.32 points, or 0.15%, at 28,164, another record high.

The Standard and Poor’s 500 added 13.13 points, or 0.42%, to 3,153.65, another record high.

The Nasdaq Composite gained 57.24 points, or 0.66%, to 8,705.18, another record high.

The euro remained weak on foreign exchange markets, last quoted at 1.1005. The British pound rose to 1.2940. The Japanese yen buckled to 109.35.

The Swiss franc eased to 0.9982.

The Canadian dollar was a tad firmer at 1.3289.

The Australian dollar was friendless, sliding to 0.6764.

The New Zealand dollar was steady at 0.6409.

On overseas markets, the FTSE 100 in London advanced 0.36%. The German Dax rose 0.38%. The Cac 40 in Paris was little changed, down 0.05%.

Asian markets were quiet. The Nikkei 225 rose 0.28%. The Hang Seng in Hong Kong was up 0.15%. The Australian All Ordinaries edged up 0.06%. The Shanghai Composite, dipped 0.13%.

Published at Wed, 27 Nov 2019 23:34:06 +0000

Source: Thanksgiving comes early to Wall Street, indices hit new record highs.

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