Wall Street Flat As Investors Pause After Record-Setting Day

The stock market was also getting a boost from the oil market, where US -produced crude was rallying and up more than 2% to $42.69 after dipping below $40 per barrel last week.

MSCI’s all-country world index .MIWD00000PUS rose 0.5 percent and touched its highest level since late August of 2015. The energy index gained 1.22 percent, with Exxon Mobil up 1.18 per cent and Schlumberger climbing 1.6 per cent.

“The important thing is that the market continues to make new highs, albeit maybe intraday and maybe incrementally small, but the trend of the market is intact”, said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.

Trading volumes have been near year-lows since Monday as the second-quarter earnings season winds down. Trading volume was low in the absence of market-moving information in a traditionally low-volume season.

Tyson Foods Inc. increased 2.5 percent after its quarterly profit topped estimates and the largest USA meat processor forecast full-year earnings that also exceeded analysts’ predictions.

The dollar index fell for the second straight day as weak US productivity data on Tuesday somewhat dimmed the prospects of economic growth and would likely deter the Federal reserve from raising interest rates.

S&P 500 futures inched higher by 2.65 points, or 0.1%, to 2,180.25, while Dow Jones Industrial Average futures edged up by 18 points, or 0.1%, to 18,484.

Wall Street eked out gains following a strong session for European stock markets, with Germany’s DAX index .GDAXI jumping 2.5 percent to its highest of 2016. The Nasdaq Composite Index decreased 0.1% after also reaching a record for the first time in a year. On the S&P 500, six of 10 sectors closed in the green as stocks in the Technology, Health Care and Telecommunications sectors led.

News Corp., meat producer Tyson Foods Inc. and drugmaker Allergan Plc are among firms reporting results today, with those from Macy’s Inc. and Walt Disney Co. due later this week.

HONG KONG – Stock markets have risen risk appetite revived following strong United States job figures that bolstered expectations of faster growth in the world’s biggest economy.

Microchip Tech rose 8.1 per cent to $61.24 after the company’s first quarter revenue beat analysts’ estimate.

On the New York Stock Exchange, advancing issues outnumbered declining ones by a 1,585-1,352 margin.

Brent crude fell 0.1 percent to $45.33 a barrel, while U.S. West Texas Intermediate crude slipped 0.2 percent to $43.11 a barrel.

The Nasdaq Composite narrowly logged its second record closing high of 2016 on Tuesday, even as weak productivity data curbed stock-market gains.

This story has not been edited by Firstpost staff and is generated by auto-feed.