New record for scorching US stock exchange

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New record for scorching US stock exchange
Photo: Peter Morgan/AP/TT

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The leading American stock exchange indexes advanced during Wednesday's trading. For the broad S&P500 index, today's increase of 0.7 percent meant that it closed at a record level, up over 22 percent since the turn of the year.

The Dow Jones industrial index rose 1.0 percent, and the technology-heavy Nasdaq composite index rose 0.6 percent.

The gains during the day were largely driven by the index-heavy technology companies that acted as locomotives. The stock market giants Apple and Microsoft rose 1.7 percent and 0.7 percent, respectively.

At the same time, investors' concerns about a major war in the Middle East have eased somewhat, which also explains why stock prices are rising.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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