Wall Street continued its June hot streak during Wednesday's trading session, with stocks extending gains as state economies reopen throughout the nation. The S&P 500 posted its fourth straight day of gains, marking Wednesday as the index's longest winning streak since early February. The Dow was also carried to new heights as Boeing
Investors continue to shake off economic data, betting on a smooth recovery once the economy fully restarts. Released on Wednesday, ADP private payrolls report for May saw nearly 2.8 million cuts, which was far less than the 8.75 million estimated. Data from the Institute for Supply Management also showed the the U.S. services sector had contracted less than expected in May, signally stabilization from the coronavirus related shutdowns.
Here's how the market settled for the mid-week:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
In Major Stock News, "reopening stocks" like airlines--American
In Stock Sector News, every sector, with the exception of Health Care which declined -0.20%, advanced during Wednesday's session. The performance gains were as follows: Industrials +3.91%, Financials +3.83%, Energy +3.05%, Real Estate +2.40%, Materials +2.28%, Consumer Discretionary +1.56%, Utilities +1.30%, Information Technology +0.82%, Communication Services +0.21% and Consumer Staples +0.20%.
In Commodity and Currency News, July futures for U.S. crude continued their ongoing recovery rally, with West Texas Intermediate
For Thursday, market participates will focus on U.S. weekly jobless claims report and corporate earnings from companies like Broadcom