WALL STREET GAINS: The Standard & Poor’s 500 index rose 1.59 points, or 0.1 percent, to 2,294.67. The Dow Jones industrial average fell 35.95 points, or 0.2 percent, to 20,054.34. The Nasdaq added 8.24 points, or 0.2 percent, to 5,682.45. The index also closed at a record high on Tuesday and last Friday. The Russell 2000 index of small-company stocks fell 2.32 points, or 0.2 percent, to 1,358.74. Corporate earnings are sustaining gains: More than half of the companies in the S&P 500 index have reported quarterly results so far, and roughly 60 percent have posted earnings that beat financial analysts’ estimates. Coca-Cola, Twitter and Viacom are among the big companies due to report results Thursday.
ANALYST’S VIEWPOINT: Despite eking out gains Wednesday, U.S. markets are “very low-spirited,” Stephen Innes of OANDA said in a commentary. “The Trump trade is the primary focus for equity markets and without any further guidance on U.S. tax policies, investors stay on the sidelines, annoyed and concerned about the unknown.”
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