Wed, 01 Dec 2021

Wall Street rises again, S&P 500 hits new closing high

Lola Evans
27 Oct 2021, 06:22 GMT+10

NEW YORK, New York - Technology stocks pushed Wall Street higher on Tuesday with the Standard and Poor's 500 setting another new record high.

Strong earnings results continue to underpin the buoyancy.

"Investors are prepared for the worst and are looking at the near-term positives against what lies ahead and that is helping gains at an index level," Arthur Hogan, chief market strategist at National Securities in New York told Reuters Tuesday.

"The key component of the weak outlooks are led by supply and not because of lack of demand for companies ... there is confidence that corporate America will be able to navigate through a lot of the supply and inflation headwinds."

At the close, the Standard and Poor's 500 was ahead 8.31 points or 0.18 percent at 4,574.79, a new record high.

The Dow Jones climbed 15.73 points or 0.04 percent, to close Tuesday at 35,756.88.

The Nasdaq Composite advanced 9.01 points or 0.06 percent to 15,235.71.

The U.S. dollar was little changed. The euro slipped to 1.1599 approaching the New York close Tuesday. The British pound was little moved at 1.3763. The Japanese yen was a tad weaker at 114.09. The Swiss franc inched up to 0.9195.

The Canadian was a fraction lower at 1.2388. The Australian dollar was a fraction higher at 0.7505. The New Zealand Dollar was virtually unchanged at 0.7163.

On overseas equity markets, the FTSE 100 in London advanced 0.76 percent. The Dax ion Germany was up 1.01 percent. The Paris-based CAC 40 added 0.80 percent.

On Asian markets, The Nikkei 225 in Japan rallied 505.60 points or 1.77 percent to close Tuesday at 29,106.01.

The Australian All Ordinaries edged up 5.00 points or 0.06 percent to 7,759.30.

The Shanghai Composite in mainland China dropped 12.22 points or 0.34 percent to close at 3,597.64.

The Hang Seng in Hong Kong declined 93.76 points or 0.36 percent to 26,038.27.

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