The U.S. Conference Board on Tuesday said its consumer confidence index leapt to 127.3 this month from 120 in May, hitting its highest level since just before the pandemic took hold in March 2020.   |  Photo Credit: PTI
Wall Street closed little changed despite strong readings for home prices and consumer confidence. Dow was up 0.03% at 34,292 while the S&P was up 0.03%. NASDAQ was up 0.19%.
Technology and retail companies rose, while financials underperformed even after some of the largest Wall Street banks boosted dividend payouts to shareholders.
The U.S. Conference Board on Tuesday said its consumer confidence index leapt to 127.3 this month from 120 in May, hitting its highest level since just before the pandemic took hold in March 2020.
Moderna Inc jumped 5.2% to a record high after the drug maker’s COVID-19 vaccine showed promise in a lab study against the Delta variant while Morgan Stanley jumped 3.4% after it doubled its dividend to 70 cents per share in the third quarter.
The yield on 10-year Treasuries was little changed at 1.47%
European shares ended higher on Tuesday after data showed economic sentiment improved sharply in June, while Adidas lifted the German index with a share buyback plan. The Dax was up 0.88% while CAC was up 0.14%. FTSE was up 0.21%
Eurozone economic sentiment rallied to a 21-year high in June as further reopening boosted optimism, according to the European Commission’s monthly sentiment survey
Adidas rose 2.5% to a record high after the sportswear maker said it will launch a new share buyback programme worth up to 550 million euros
Asian stocks had a steady start Wednesday after U.S. shares edged up to a record on economic optimism and signs that vaccines can counter a highly infectious coronavirus strain. The ASX 200 (Australia) index was flat.
West Texas Intermediate crude rose 0.7% to $73.42 a barrel. Oil climbed back above $73 a barrel. OPEC+ ministers are divided ahead of a key meeting later this week on production policy
Gold futures fell 1.1% to $1,761.70 an ounce