The Dow Jones Industrial Average notched minor gains on Wednesday that were enough for a new record highs, as gains in energy and discretionary shares offset declines in technology and big pharma.
After a mostly tepid trading session, the blue-chip index rose 17.27 points, or 0.1%, to close at 22,136.13. That was the Dow’s second consecutive record close.
Twenty-one of 30 index members contributed to the gains on Wednesday. Energy giant Chevron Corp (CVX) climbed 1.5%, as oil prices rose to five-week highs amid a bigger than expected rise in commercial crude inventories.
DowDuPont Inc. (DWDP) rose 1.4% and General Electric Co (GE) closed 0.8% higher. The Walt Disney Company (DIS) gained 1%, while Verizon Communications Inc. (VZ) rose by a similar amount.
On the opposite side of the ledger, Apple Inc. (AAPL) declined 0.8% after unveiling the new iPhone X on Tuesday. The sleek new device has all the polish of a top-notch phone, but the $999 price tag has some analysts underwhelmed.
Mining equipment manufacturer Caterpillar Inc. (CAT) fell 1.1%. Pharmaceutical giant Pfizer Inc. (PFE) closed down 0.9% by the end of trading.
The large-cap S&P 500 Index finished slightly higher on Wednesday, as losses in healthcare and technology were offset by strong gains in energy stocks. The index closed up 0.1% at 2,498.37, a new record.
Meanwhile, the technology-focused Nasdaq Composite Index settled up 0.1% at 6,460.19, which was also a new record high
European stocks finished mostly higher on Wednesday in the shadow of Wall Street’s latest record-breaking rally. The Eurozone Stoxx 50 Pr gained 0.3%. Germany’s DAX and France’s CAC 40 each rose 0.2%.
Dow Jones Industrial Average