US equities closed firmly higher Tuesday, posting their fourth consecutive daily increase, buoyed in part by an unexpected rise in durable goods orders in April.
A separate report showed that US consumer confidence improved in line with economists' estimates in May, while housing data and the preliminary reading of the Markit services purchasing managers index beat economists' expectations.
The DJIA ended up 0.4% at 16,675.5, the NASDAQ Composite closed up 1.2% at 4,237.068, and the S&P 500 closed up 0.6% at 1,911.91, having hit a record high of 1,912.28 earlier in the session.
With the S&P 500 closing fractionally below its all-time high, and the DJIA just 60 points off its all-time high, Wednesday looks set to be another record breaking session on
Ahead of the
However, "a day bereft of macro data means we are unlikely to see much progress, even if durable goods orders are still having an impact," says
"Traders will be positioning themselves ahead of the preliminary US GDP release tomorrow," says
In corporate news,
It increased the cash part of its
Most Popular Stories
- National Retail Federation Reduces Sales Forecast
- Amazon Hiring on Calif.'s Central Coast
- Sporty Ford Fiesta Fires on All 3 Cylinders
- Prison Workers Wanted
- Pandora Tumbles in Late Trading
- Jennifer Lopez Throws Big Bash for Birthday
- Small Firms Take Out the Trash in Jersey
- Citigroup Unit Paying $5 Million to Settle SEC Charges
- Execs Help Entrepreneurs, Get Chevy Volts
- Obama Seeks Help From Central American Leaders