Dow Jones stock index hits best winning streak in 30 years

The Dow Jones Industrial Average was down 25 points, or 0.12%, to 20,812, the S&P 500 had lost six points, or 0.26%, to 2,364 and the Nasdaq Composite had dropped 36 points, or 0.62%, to 5,825.

-The S&P 500 index jumped 1.5 percent to a record 2,399.08 at 3:25 p.m.in NY, its biggest gain of the year. Crude stocks rose by 1.5 million barrels in the past week, according to the Energy Information Administration.

Mr Trump’s speech lacked “fresh content for the market to trade off, with big tax cuts, deregulation and an infrastructure plan being mentioned but not supported by any details”, Mr McGuire noted.

Influential New York Fed President William Dudley said Tuesday night that tightening monetary policy had become “more compelling”, making a rate increase more likely for March 15.

Crude oil prices fluctuated on Wednesday after an unexpected increase in domestic inventories over the past week.

JPMorgan Chase rose 2.6 percent and Goldman Sachs rose 2.1 percent, the biggest increases in the Dow.

In small-caps, the Russell 2000 closed at 1,386.85 for a loss of 21.12 points or 1.50%.

The S&P 500 is up 28.62 points, or 1.2 percent.

ETrade Financial fell $2.69, or 7.2 percent, to $34.51, while Charles Schwab gave up $1.32, or 3.2 percent, to $40.41.

Trump’s address is being billed by Wall Street as his most important for markets since he has taken office.

The energy sector supply company sank 37.4 percent after its latest quarterly report card and guidance fell short of financial analysts’ expectations. London’s FTSE 100 was recently around 1.5 per cent up on the day.

Wednesday, the U.S. Census Bureau reported that inflation is moving closer to the two percent annual rate that experts say helps the economy achieve stable prices and full employment. Our, thus far, reliable 17-month moving average for the S&P 500 set its own record. South Korea’s markets were closed for a holiday.

ENERGY: U.S. crude fell 84 cents to $52.99 a barrel in electronic trading on the New York Mercantile Exchange while Brent crude, used to price global oils, was down 79 cents to $55.57 a barrel.

Currencies: The dollar rose to 113.67 yen from Tuesday’s 112.17 yen. The euro slipped to $1.0544 from $1.0597.