At closing bell, the Dow Jones Industrial Average index inclined 83.48 points, or 0.3%, to 28,331.92. The S&P 500 index added 35.11 points, or 1.02%, to 3,478.73. The tech-heavy Nasdaq Composite Index rose 198.59 points, or 1.73%, to 11,665.06. The S&P 500 and the Nasdaq composite indexes notched record closes.
US durable-goods orders jumped 11.2% in July on strong auto demand, the Census Bureau said on Wednesday, following June's 7.7% gain. The jump signaled a continued recovery in the nation's manufacturing industry, though the figures remain well below pre-pandemic highs.
Federal Reserve Chairman Jerome Powell is scheduled to deliver a keynote address on Thursday at the central bank's annual conference in Jackson Hole, Wyoming. The speech is expected to lay out the Fed's plans to keep interest rates low for several years and reveal a strategy for maintaining inflation at its 2% target. Investors will watch closely for any signs of additional monetary support to expedite the US economic rebound.
Among Indian ADR, INFOSYS added 0.55% to $12.88, Vedanta rose 0.29% to $6.96, Tata Motors grew 11.3% to $9.65, and Azure Power Global added 3.8% to $22.94. WNS Holdings fell 0.21% to $66.31, ICICI Bank was down 1.4% to $10.53, HDFC Bank dropped 0.74% to $49.72, and Dr Reddys Labs shed 0.07% to $59.85. Wipro closed steady at $4.23.
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