US close: Markets eke out gains ahead of risky Thursday
Wall Street was staging a mild bounce back on Wednesday ahead of a raft of key risk events on Thursday day, including former FBI boss James Comey's testimony before a Senate panel, the UK general election and a meeting of the European Central Bank's governing council.
The Dow Jones Industrial Average finished up 0.18% at 21,173.69, while the S&P 500 added 0.16% to 2,433.14 and the Nasdaq 100 was ahead 0.36% at 5,877.59.
“Comey’s testimony is crucial tomorrow,” said FXTM chief market strategist Hussein Sayed.
“While it's known that many questions will remain unanswered, the biggest question remains to be whether the former FBI director will accuse the President of abusing his power to derail the FBI’s investigation and whether there’s any indication of potential links between Russia and the Trump election campaign.
“Should the testimony reveal any unexpected surprises, the same will be reflected in the financial markets.”
Investigations into the Trump election campaign's alleged dealing with Russian officials had seen the White House's drive for tax reforms stall.
That led JPMorgan chief Jamie Dimon to caution that much still hinged on such reforms earlier in the week.
Expected delays in the implementation of stimulus measures by the Trump administration led the OECD to cut its forecasts for US GDP growth in 2017 and 2018 to 2.1% and 2.4% from 2.4% and 2.8%, respectively.
On the corporate front, US-listed shares of Banco Santander finished up 2.6% after it bought struggling Banco Popular Espanol for €1.
Jack Daniels parent Brown-Forman Corporation was off 3.1% after the distiller posted fiscal fourth quarter profits per share of 37 cents, which was down from $1.30 year-on-year and missing a consensus forecast for 40 cents.
Dow Jones - Risers
Nike Inc. (NKE) $53.23 1.43%
Unitedhealth Group Inc. (UNH) $183.21 1.32%
American Express Co. (AXP) $79.81 1.22%
JP Morgan Chase & Co. (JPM) $83.91 1.15%
Boeing Co. (BA) $187.99 0.72%
Apple Inc. (AAPL) $155.37 0.60%
Goldman Sachs Group Inc. (GS) $215.78 0.58%
Home Depot Inc. (HD) $154.96 0.49%
McDonald's Corp. (MCD) $151.94 0.47%
Walt Disney Co. (DIS) $105.90 0.40%
Dow Jones - Fallers
Coca-Cola Co. (KO) $45.51 -1.02%
Caterpillar Inc. (CAT) $103.52 -0.99%
Merck & Co. Inc. (MRK) $64.06 -0.94%
International Business Machines Corp. (IBM) $150.96 -0.91%
General Electric Co. (GE) $27.68 -0.90%
Travelers Company Inc. (TRV) $123.50 -0.43%
Chevron Corp. (CVX) $103.76 -0.38%
Exxon Mobil Corp. (XOM) $80.91 -0.37%
United Technologies Corp. (UTX) $119.78 -0.28%
Pfizer Inc. (PFE) $32.00 -0.22%
S&P 500 - Risers
Signet Jewelers Ltd (SIG) $56.11 4.00%
Intercontinental Exchange Inc (ICE) $63.62 3.36%
Tenet Healthcare Corp. (THC) $17.56 3.23%
GGP Inc (GGP) $23.31 3.05%
Westrock Company (WRK) $55.74 2.99%
Micron Technology Inc. (MU) $32.50 2.95%
Kimco Realty Corp. (KIM) $18.42 2.91%
United States Steel Corp. (X) $20.87 2.86%
Federal Realty Inv Trust (FRT) $124.99 2.30%
American Airlines Group (AAL) $50.86 2.25%
S&P 500 - Fallers
Diamond Offshore Drilling Inc. (DO) $10.91 -8.01%
Newfield Exploration Co (NFX) $28.88 -6.95%
Molson Coors Brewing Co. Class B (TAP) $89.78 -6.50%
Helmerich & Payne Inc. (HP) $50.08 -6.04%
Anadarko Petroleum Corp. (APC) $47.17 -5.85%
Devon Energy Corp. (DVN) $31.92 -5.84%
Transocean Ltd. (RIG) $8.58 -5.60%
Marathon Oil Corp. (MRO) $12.21 -5.20%
Chesapeake Energy Corp. (CHK) $4.80 -4.76%
Hess Corp. (HES) $44.80 -4.56%
Nasdaq 100 - Risers
NetEase Inc. Ads (NTES) $314.66 3.89%
Micron Technology Inc. (MU) $32.50 2.95%
JD.com, Inc. (JD) $41.18 2.49%
American Airlines Group (AAL) $50.86 2.25%
Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $50.79 2.15%
Mylan Inc. (MYL) $39.34 2.05%
J.B. Hunt Transport Services Inc. (JBHT) $87.92 1.95%
Tesla Inc (TSLA) $359.65 1.93%
Hologic Inc. (HOLX) $45.13 1.60%
Skyworks Solutions Inc. (SWKS) $109.48 1.50%
Nasdaq 100 - Fallers
Vodafone Group Plc ADS (VOD) $29.02 -3.68%
Incyte Corp. (INCY) $119.15 -2.55%
Liberty Global Plc Lilac Class A (LILA) $21.03 -2.37%
Liberty Global Plc Lilac Class C (LILAK) $20.88 -2.29%
Vertex Pharmaceuticals Inc. (VRTX) $124.99 -2.14%
Dollar Tree Inc (DLTR) $75.41 -1.91%
Mattel Inc. (MAT) $22.37 -1.89%
Shire Plc Ads (SHPG) $171.01 -1.77%
Alexion Pharmaceuticals Inc. (ALXN) $100.14 -1.31%
QUALCOMM Inc. (QCOM) $57.53 -1.15%