S&P 500 tops 2500, as dollar weakens

E-mini Dow Jones Industrial Average

USA stock indexes are inching mostly higher in early trading on Wall Street as more gains for Boeing send the Dow Jones industrial average above the record high it reached a day earlier.

On Wall Street, the Dow Jones Industrial Average rose 41.44 points, or 0.19 percent, to 22,244.92.

The S&P 500 ended 4.61 points higher, a return of 0.2%, at 2,500.23, on the back of a 0.4% rise in financials, and a 1.8% gain in telecommunications, which is the smallest of the broad-market benchmark's 11 sectors.

Negative sentiment may be generated in reaction to a report from the Commerce Department showing an unexpected drop in retail sales in the month of August.

Retailers were also expected to come under a bit of pressure after retail sales figures for August fell 0.2%, thanks to a 1.6% decline in sales at vehicle dealers; strip these out and retail sales rose 0.2%.

"While traders may be hesitant to invest fresh capital at price levels that may appear too high, they are forced to anyway".

Boeing rose $3.77, or 1.5 percent, to $249 as the aerospace company continued to set record highs. The biggest gains came Monday, after Hurricane Irma wreaked less damage than forecast in Florida following Harvey's devastating sweep through Texas.

The University of Michigan's Consumer Sentiment Index was affected by USA weather-related issues, which were a factor for the Index's decrease from 96.8 to 95.3.

Helped by strong corporate earnings reports and optimism that President Donald Trump will cut business taxes, the Dow has gained 12 percent this year.

FED WATCH: Investors were also digesting the first of a batch of USA economic data as they await the Fed's next move on interest rates.

The pan-European FTSEurofirst 300 index of leading regional shares lost 0.41 percent to close at 1,495.38.

The Nasdaq Composite was down 5.31 points, or 0.08 per cent, at 6,423.77.

Following the mixed performance seen in the previous session, stocks may move to the downside in early trading on Friday.

"[.] Profitability of U.S. stocks is also near highs".

USA gold futures GCcv1 fell 0.16 percent to $1,327.20 an ounce. The pound jumped to $1.3354 from $1.3197. The benchmark 10-year yield started the week near 2.09%; it traded around 2.19% Friday. The "control group", which excludes volatile items like gasoline stations sales, food, auto and building material sales fell 0.2% MoM versus predictions of a 0.2% gain. South Korea's Kospi recouped initial losses to end 0.4 percent higher.

CURRENCIES: The dollar slid to 110.19 yen from 110.26 yen.

Brick-and-mortar retail stocks weighed on the S&P 500, with Tiffany and Under Armour among the index's biggest laggards. The euro rose to $1.1881 from $1.1873.

The Dow rose 34 points, or 0.2 percent, to 22,237.

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