S&P 500 ekes out a small gain in light trading, boosted by reopening plays
U.S. stocks rose slightly on Wednesday as shares tied to the economic reopening supported the broader market once again.
The S&P 500 climbed 0.2% to 4,195.99, sitting just about 1% from a record high. The Dow Jones Industrial Average rose just 10.59 points to 34,323.05.The tech-heavy Nasdaq Composite added 0.6% to 13,738.00.
The optimism on the economy comes as U.S. average daily Covid cases fall below 25,000 and as nearly half the U.S. population has received at least one vaccination dose.
Asia-Pacific stocks muted; China’s industrial profits data for April ahead
Shares in Asia-Pacific were muted in Thursday morning trade as investors look ahead to the release of Chinese industrial profits data for April.
The Nikkei 225 in Japan slipped 0.19% in early trade while the Topix index declined fractionally. Over in South Korea, the Kospi hovered above the flatline.
Australia’s S&P/ASX 200 was little changed.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.04% lower.
China is expected to report its industrial profits data for April at around 9:30 a.m. HK/SIN on Thursday.
In corporate developments, investors will watch shares of Xiaomi in Hong Kong after the Chinese smartphone maker on Wednesday reported a nearly 55% surge in its first quarter revenue as compared with the same period a year earlier.
Reference: CNBC
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