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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

US close: Stocks higher, S&P 500 nears all-time high

(Sharecast News) - Wall Street stocks closed higher on Wednesday as the S&P 500 fell just short of registering a fresh all-time high. At the close, the Dow Jones Industrial Average was up 0.30% at 37,656.52, while the S&P 500 advanced 0.14% at 4,781.58 and the Nasdaq Composite saw out the session 0.16% weaker at 15,099.18.

The Dow closed 111.19 points higher on Wednesday, extending gains recorded in the previous session, while the S&P 500 rose closer to record levels.

All three major indices were on track to register a ninth consecutive winning week, underscoring the market's late 2023 rally.

As far as Wednesday's headlines went, US mortgage applications dropped 1.5% in the week ended 15 December, according to the Mortgage Bankers Association, halting a six-week run of increases. Applications to refinance a home dropped by 2% month-on-month, but remained 18% higher year-on-year, while applications to purchase a home dropped 1%.

Last week's fall comes despite benchmark Treasury yields continuing to decline following dovish signals sent by policymakers at the Federal Reserve.

Elsewhere, the Richmond Federal Reserve manufacturing index dropped to -11 in December, down from -5 in November and the lowest reading in ten months. However, December saw an increase in average growth rates for prices paid and prices received, along with a slight rise in expected price changes over the next 12 months.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Walmart Inc. (WMT) $157.88 0.94% Amgen Inc. (AMGN) $286.53 0.93% Caterpillar Inc. (CAT) $298.12 0.84% Travelers Company Inc. (TRV) $188.57 0.82% Goldman Sachs Group Inc. (GS) $384.48 0.75% JP Morgan Chase & Co. (JPM) $169.40 0.60% American Express Co. (AXP) $187.06 0.59% 3M Co. (MMM) $108.72 0.58% McDonald's Corp. (MCD) $294.55 0.58% Unitedhealth Group Inc. (UNH) $522.84 0.53%

Dow Jones - Fallers

Nike Inc. (NKE) $107.13 -0.82% Walt Disney Co. (DIS) $90.38 -0.63% Verizon Communications Inc. (VZ) $37.29 -0.45% Chevron Corp. (CVX) $151.91 -0.33% Boeing Co. (BA) $262.10 -0.26% Home Depot Inc. (HD) $348.53 -0.22% Microsoft Corp. (MSFT) $374.07 -0.16% Visa Inc. (V) $258.93 -0.09% Dowdupont Inc. (DWDP) $0.00 0.00% Dow Chemical Co. (DOW) $55.71 0.00%

S&P 500 - Risers

Regeneron Pharmaceuticals Inc. (REGN) $874.37 2.92% Carmax Inc. (KMX) $78.00 2.39% Dish Network Corp. (DISH) $5.30 1.92% Eli Lilly and Company (LLY) $581.51 1.90% Advanced Micro Devices Inc. (AMD) $146.07 1.85% Jacobs Solutions Inc. (J) $130.16 1.54% Westrock Company (WRK) $42.73 1.47% Harley-Davidson Inc. (HOG) $37.14 1.39% Kohls Corp. (KSS) $29.36 1.35% Illumina Inc. (ILMN) $142.53 1.34%

S&P 500 - Fallers

Vornado Realty Trust (VNO) $29.09 -3.48% Sl Green Realty Corp. (SLG) $46.68 -2.28% Albemarle Corp. (ALB) $149.32 -2.01% CME Group Inc. (CME) $210.51 -2.00% Marathon Petroleum Corporation (MPC) $149.91 -1.45% Jack Henry & Associates Inc. (JKHY) $163.17 -1.44% Travel + Leisure Co (TNL) $39.74 -1.41% Helmerich & Payne Inc. (HP) $36.94 -1.34% Sealed Air Corp. (SEE) $36.32 -1.28% Alaska Air Group Inc. (ALK) $39.67 -1.22%

Nasdaq 100 - Risers

Regeneron Pharmaceuticals Inc. (REGN) $874.37 2.92% Dish Network Corp. (DISH) $5.30 1.92% Tesla Inc (TSLA) $261.44 1.88% Biomarin Pharmaceutical Inc. (BMRN) $97.88 1.47% Illumina Inc. (ILMN) $142.53 1.34% Dollar Tree Inc (DLTR) $141.84 1.31% Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $483.26 1.23% Monster Beverage Corp (MNST) $57.34 0.97% Amgen Inc. (AMGN) $286.53 0.93% Mercadolibre Inc. (MELI) $1,590.88 0.90%

Nasdaq 100 - Fallers

NetEase Inc. Ads (NTES) $87.63 -4.96% Costco Wholesale Corp. (COST) $666.80 -1.16% Alphabet Inc. Class C (GOOG) $141.44 -0.97% Gen Digital Inc. (GEN) $23.00 -0.95% Paychex Inc. (PAYX) $119.07 -0.92% Booking Holdings Inc. (BKNG) $3,534.64 -0.90% CSX Corp. (CSX) $34.65 -0.86% American Airlines Group (AAL) $13.99 -0.85% Alphabet Inc. Class A (GOOGL) $140.37 -0.81% Hasbro Inc (HAS) $51.00 -0.78%

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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