At the close of trade, the Dow Jones Industrial Average index declined 48.20 points, or 0.14%, to 35,312.53. The S&P 500 index rose 1.41 points, or 0.03%, to 4,524.09. The tech-heavy Nasdaq Composite Index was up 50.15 points, or 0.33%, to 15,30938.
Total 6 of 11 S&P500 sectors inclined, while remaining 5 sectors closed down. Real estate (up 1.69%) sector was best performer, followed by utilities (up 1.3%) and communication services (up 0.53%) sectors, while energy (down 1.51%) sector was worst performer, followed by financials (down 0.62%), industrials (down 0.36%, and materials (down 0.28%) sectors.
Total volume turnover on U.S. exchanges was 8.36 billion shares, down from previous session volume of 8.92 billion shares. In the NYSE exchange, 2056 issues advanced, 1260 issues declined, and 151 issues closed unchanged. In the NASDAQ, 2578 issues advanced, 1831 issues declined, and 232 issues unchanged.
ECONOMIC NEWS: Private payrolls increase by just 374,000 in August- Private payrolls rose just 374,000 for the month as the Covid resurgence coincided with cutbacks in hiring, according to the ADP National Employment Report.
US Manufacturing Activity Edges Higher In August-US manufacturing PMI inched up to 59.9 in August from 59.5 in July, with a reading above 50 indicating growth in the sector, the Institute for Supply Management revealed in a report on Wednesday. The unexpected increase by the headline index came as the new orders index climbed to 66.7 in August from 64.9 in July and the production index rose to 60.0 from 58.4 in the previous month. Meanwhile, the report showed the employment index slid to 49.0 in August from 52.9 in July, indicating a modest contraction in employment in the manufacturing sector. The prices index also slumped to 79.4 in August from 85.7 in July, pointing to a slowdown in the pace of price growth.
US Construction Spending Rises By 0.3% In July-US construction spending rose by 0.3% to an annual rate of $1.569 trillion in July after edging down by less than a tenth of a% to revised rate of $1.563 trillion in June, according to a report released by the Commerce Department on Wednesday. The modest increase in construction spending came as spending on private construction climbed by 0.3% to an annual rate of $1.231 trillion. Spending on residential construction increased 0.5% to a rate of $773.0 billion, more than offsetting a 0.2% dip in spending on non-residential construction to a rate of $458.0 billion. Compared to the same month a year ago, total construction in July was up 9.0%, the Commerce Department said.
CURRENCY NEWS: Major currencies were stronger against the US dollar in European and US trade. The Euro rose from lows near $1.1793 to highs near $1.1855 and was near $1.1840 at the US close. US treasury yields ended little changed on Wednesday. Yields had declined earlier in the trading session in the wake of weaker-than-expected August private payrolls ahead of Friday's key government jobs report. US 10-year yields were steady near 1.30%. Among Indian ADR, Vedanta added 2% to $16.79, HDFC Bank added 0.69% to $78.85, Dr Reddys Labs added 1.82% to $65.38, ICICI Bank added 0.87% to $19.79, Tata Motors added 2.54% to $20.18, and WNS Holdings rose 0.55% to $83.40. INFOSYS fell 1.13% to $23.55. Wipro was steady at $9.34.
Powered by Capital Market - Live News