Wall Street Hits Record Highs as Telecoms, Financials Lead

Wall Street Hits Record Highs as Telecoms, Financials Lead

USA stock-market indexes eked out small gains with all three benchmarks closing at all-time highs on Wednesday.

The Dow Jones Industrial Average climbed 61.49 (+0.28 percent) to finish at 22,118.86.

Sept 12 (Reuters) - U.S. stocks were higher on Tuesday, with the S&P 500 hitting a record intraday high as investor concerns about U.S. tensions with North Korea eased and the financial impact from Hurricane Irma appeared less severe than feared.

After the closing bell, Nordstrom shares jumped 8.8 percent after reports that the high-end retailer chose private equity firm Leonard Green & Partners to help take the company private. "The longer this period of calm continues, the more relaxed investors will become which will be better for riskier assets, while safe havens will continue to experience unwinding".

Crude oil was about 0.46 percent higher with prices at $48 per barrel.

United States benchmarks started lower on Wednesday, to slip from record highs, as traders digested the fallout from the Apple (NASDAQ:AAPL) launch. All three indexes closed at new all-time highs.

In afternoon trading, the Dow and the Nasdaq were both up 1.1% while the S&P 500 gained 1%. Telecoms rose 1.4% and financials were up 1.2% as Treasury yields continued to move higher.

The S&P Utilities and Real Estate sectors were the laggards of the day, with 1.8 percent and 1.3 percent declines as investors shied away from interest rate- sensitive stocks.

The Nasdaq composite advanced 72.07 points, or 1.1 percent, to 6,432.26.

About 5.91 billion shares changed hands on USA exchanges, above the 5.79 billion 20-day average.



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