S&P 500 finishes within points of record high close
By Caroline Valetkevitch (Reuters) - The S&P 500 jumped on Wednesday but finished just short of its February record closing high, in a broad rally led by tech stocks. The index during the session traded above its record high close of 3,386.15 from Feb. 19, before the onset of the coronavirus crisis in the United States that caused one of Wall Street's most dramatic crashes in history
By Caroline Valetkevitch
(Reuters) - The S&P 500 jumped on Wednesday but finished just short of its February record closing high, in a broad rally led by tech stocks.
The index during the session traded above its record high close of 3,386.15 from Feb. 19, before the onset of the coronavirus crisis in the United States that caused one of Wall Street's most dramatic crashes in history.
Heavyweights Microsoft Corp
The Nasdaq and Dow also rose sharply. The Nasdaq was the first of the three major indexes to bounce back to an all-time high in June. The Dow remains below its February peak.
With a better-than-feared second-quarter earnings season largely over, investors are preparing for the risk of a closely contested U.S. presidential election in the fall.
Democratic candidate Joe Biden on Tuesday picked Senator Kamala Harris as his choice for vice president.
Investors also awaited news on stimulus talks. A breakdown in bipartisan talks over the next federal aid bill to help tens of millions of Americans suffering in the coronavirus pandemic entered a fifth day, with neither side ready to resume negotiations.
Unofficially, the Dow Jones Industrial Average <.DJI> rose 1.03% to end at 27,971.9 points, while the S&P 500 <.SPX> gained 1.38% to 3,379.81. The Nasdaq Composite <.IXIC> climbed 2.1% to 11,009.76.
(Additional reporting by Medha Singh and Ambar Warrick in Bengaluru; Editing by Arun Koyyur, Uttaresh.V and Tom Brown)
This story has not been edited by Firstpost staff and is generated by auto-feed.
By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.