The Nasdaq Composite closed at a record Tuesday, its fourth straight positive session, while the Dow slipped and the S&P 500 stayed just below its own all-time high. U.S. futures were little changed early Wednesday as traders weighed oil-price swings tied to the U.S.-Iran standoff.
The tech-heavy Nasdaq Composite gained 0.5% Tuesday, hitting a new intraday high before closing at a record — its fourth consecutive positive session. The Dow Jones Industrial Average fell 0.4% over the same session. The S&P 500 finished marginally lower. That leaves the index about 0.7% off its own all-time high.
Going into Wednesday's session, S&P 500 futures were marginally higher as of 5 a.m. ET, while Nasdaq-100 futures dipped below the flatline. Futures tied to the Dow were up 0.04%. The moves came as traders tracked oil prices swinging on fresh uncertainty around the war between the U.S. and Iran, after President Donald Trump said U.S. and Iranian officials held a three-hour meeting at the United Nations General Assembly that he described as productive.
Brett Ewing, chief market strategist at First Franklin Financial Services, told CNBC he thought the S&P 500 could hit 8,200 before the year is through. According to CNBC: "We raised our target, believe it or not, in August to 8,200" — up from an earlier call of 8,000 set at the start of the year. Traders were also watching earnings from General Mills, Paychex and H.B. Fuller heading into Wednesday's session.
Source: CNBC
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