Citywire for Financial Professionals
Stay connected:

View the article online at http://citywire.co.uk/money/article/a1071682

Overnight Markets: Amazon lifts Nasdaq to record close

The Dow and the S&P 500 fell after the Fed expressed concern about the impact of the market's sharp rise on the economy in a summary of its previous meeting.

 
Overnight Markets: Amazon lifts Nasdaq to record close

 

US stocks closed little changed on Wednesday, with the Nasdaq composite eking out a record close, led by gains in Amazon.

The Dow Jones Industrial Average fell 65 points, or 0.27%, to 23,526.18, the S&P 500 lost two points, or 0.08%, to 2,597 and the Nasdaq Composite added five points, or 0.07%, to 6,867.

The Dow and the S&P 500 fell after Federal Reserve expressed concern about the impact of the market's sharp rise on the economy in a summary of its previous meeting. Policymakers expect interest rates to be raised in the "near term."

In company news, Amazon rose more than 1% after reports that the company's cloud business is about to announce a huge health-care deal with Cerner, one of the largest health technology companies in the world.

Verizon and AT&T added 2.0% and 1.6% respectively on bets they will benefit from the US government's plan to rescind net neutrality rules put in place by the Obama administration.

Hewlett Packard Enterprise chief executive Meg Whitman said she would step down in February, sending the company's shares down 7.2%.

HP Inc, which holds the computer and printer business, lost 5.0% after reporting an unimpressive profit.

Shares of chipmaker Qualcomm rose 2.2% after Reuters reported Broadcom is considering raising its offer to buy its larger rival by offering more of its own stock.

Tractor maker Deere & Co rose 4.3% and touched a record high of $146.00 after reporting upbeat quarterly earnings and issuing a strong profit forecast for the year.

Dow component DowDuPont fell 0.9% to lead decliners.

Trading volumes were thin ahead of the Thanksgiving holiday on Thursday and an early close on Friday.

Sign in / register to view full article on one page

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

The Citywire Guide to Investment Trusts


In this guide to investment trusts, produced in association with Aberdeen Asset Management, we spoke to many of the leading experts in the field to find out more.

Watch Now

More about this:

Archive

Today's articles

Tools from Citywire Money

From the Forums

+ Start a new discussion

Weekly email from The Lolly

Get simple, easy ways to make more from your money. Just enter your email address below

An error occured while subscribing your email. Please try again later.

Thank you for registering for your weekly newsletter from The Lolly.

Keep an eye out for us in your inbox, and please add noreply@emails.citywire.co.uk to your safe senders list so we don't get junked.

Sorry, this link is not
quite ready yet