Economy

S&P 500 hits record high on way to longest market rally

S&P 500 hits record high on way to longest market rally

Specialist Robert Nelson, right, and trader Gregory Rowe, left, work on the floor of the New York Stock Exchange.

The S&P 500's ascent to a new all-time high confirms that the bull market that began in March 2009 continues, the second longest on record, following the bull that ran from December 1987 to March 2000.

US stocks are on the verge of the longest bull market in history.

The S&P 500 is on track to record its longest bull market Wednesday, beating the bull market of the 1990s.

Trade-sensitive industrial stocks rose for the fourth consecutive session as investors remained optimistic that the United States and China could move closer to settling their trade dispute.

India beat England by 203 runs in third Test
England then lost their next two wickets on 64, with captain Joe Root (13) and Ollie Pope (16) both caught in the cordon. But we believed in ourselves and that is why it is 1-2 now after 0-2.

Asian stocks eked out gains on Wednesday, with sentiment boosted by Wall Street's rise and a record intraday high for the S&P 500 index on Tuesday, but fragile Chinese markets retreated after two days in the black.

The S&P consumer discretionary index climbed 0.9 percent as shares of off-price retailer TJX Companies Inc rose on strong results and Toll Brothers Inc's encouraging quarterly report boosted shares of homebuilders. "Now that major risks are off the table, when you line up all the factors, stock valuations are pretty reasonable".

The S&P 500 index finished with a loss of 1.14 points, or 0.04 percent, at 2,861.82.

Shortly after the opening bell, the S&P 500 added almost 8 points to climb to 2,865, putting the index within a short range of exceeding its all-time high of 2,872. The Russell 2000 was last up 1.2 percent.

CFRA classified the 1990 decline as a bear market because the S&P 500 fell 20 percent when rounded and because it surrendered more than 50 percent of what was gained in the prior bull market, chief investment strategist Sam Stovall said in a recent note.

Gold prices extend gains as dollar sags after Donald Trump remarks
This would not be Trump's first criticism of Powell and the Fed. "This can only happen to Trump", the president reportedly joked. Trump nominated Powell and was told by key advisers that Powell would not move aggressively to raise interest rates.

The dollar softened after President Donald Trump criticized the Federal Reserve for raising interest rates.

Lowe's shares also hit a record high after the home improvement chain promised to cut back slow-moving products and unsuccessful business projects.

Advancing issues outnumbered declining ones on the NYSE by a 1.17-to-1 ratio; on Nasdaq, a 1.49-to-1 ratio favored advancers.

The S&P 500 has surged 320pc in its record run, racking up multiple all-time highs on a 19pc rally a year ago.

Lagging shares were Husky Energy Inc, down 2.6 percent, Brookfield Asset Management Inc, down 2.5 percent, and Knight Therapeutics Inc, lower by 2.5 percent. The S&P 500 closed at 2,862.96 for a gain of 5.91 points or 0.21%.

Microsoft uncovers more Russian hacking ahead of US midterm elections
Russian Federation has denied Microsoft's allegations that it targeted the right-wing think-tanks. TRT World's Nick Harper has more details from NY .

West Texas Intermediate crude futures rose 1.34 percent, or $0.89, to $67.32 a barrel.


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