How major U.S. stock indexes fared on Wednesday

Wall Street

Each index recorded a fifth consecutive week of gains. It measures the daily stock price movements of 30 large, publicly-owned USA companies.

AT&T plunged 5.7% after the No. 2 United States wireless carrier said it lost 90,000 U.S. video subscribers in the third quarter due to intense competition and the impact of recent hurricanes. Technology, health care and household goods companies all rose.

Banks kicked off what is likely to be strong season of third-quarter corporate results that analysts say could extend the market's record-setting streak. They have made big gains over the last month.

Crude oil was about 1.46 percent higher with prices at $51 per barrel.

The Dow Jones Industrial Average closed at 22,841.01 for a loss of 31.88 points or 0.14%.

Corporate earnings for the S&P 500 have grown 6.1 percent, 15.5 percent and 10.8 percent in the fourth quarter of a year ago and the first and second quarters of 2017, respectively.

The Nasdaq composite climbed 16.30 points, or 0.2 percent, to 6,603.55.

Bank of America, the second-biggest United States bank by assets, rose 1.10 per cent after the lender's profit topped estimates due to higher interest rates and a drop in costs.

Apple, up 0.6 percent, gave the S&P 500 its biggest boost, while the S&P technology index was up 0.5 percent.

Also limiting the day's gains, the healthcare sector was down 0.3 percent as health insurers and hospital operators tumbled on news that President Donald Trump scrapped billions of dollars in Obamacare subsidies to private insurers for low-income Americans.

On the economic front, the Labor Department said on Friday its Consumer Price Index for All Urban Consumers increased 0.5 percent in September on a seasonally adjusted basis.

All three indexes finished at all-time highs.

The Russell 2000 index of smaller-company stocks slipped 1.08 points, or 0.1 percent, to 1,506.92.



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