Stocks ended little changed Wednesday, struggling to sustain a recent rally that drove the market to record highs, as U.S.
The S&P 500 and the Nasdaq closed at record highs for a second session on Monday, while the Dow hit a record high for the first time since July.
In addition to growing optimism that trade tensions will lessen, corporate profits haven't been coming in as badly as Wall Street expected and interest rates are expected to remain low following three rate cuts this year by the Federal Reserve.
Even in manufacturing, which has been hit particularly hard by President Donald Trump's trade war, investors were seeing some hope that things may be hitting bottom soon.
The Dow Jones U.S. Small-Cap Growth Index closed at 10,138.54 for a gain of 19.52 points or 0.19%.
The S&P 500 fell 3 points, or 0.1%, to 3,074.
Adobe Inc rose 3% as the Photoshop software maker raised its fourth-quarter digital media annualized recurring revenue target, boosting the Nasdaq and S&P 500.
"Because the uptick was driven by risk sentiment, it's not sustainable unless we saw a meaningful turnaround in economic growth", Goodwin said.
"You're seeing a continuation of optimism around a potential trade agreement to come with China as referenced by the potential removal of tariffs in December", said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.
Benchmark 10-year U.S. Treasury notes fell 21/32 in price to yield 1.8619%. When investors feel less need for safety, the crowd thins to buy Treasury bonds. The 30-year not lost 15/32, pushing the yield up to 2.336%. Not only that, the gap between the yields of the 10-year and two-year Treasurys widened, which many on Wall Street see as a sign of increased confidence in the economy. It rose 34 cents on Monday.
Such a widening spread helps banks, which make money by borrowing money at short-term rates and lending it out at longer-term rates. South Korea's Kospi climbed 0.6% to 2,141.31.
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Liton was finally run out by a direct throw from Pant while trying to steal a single after missing a googly from Chahal. The two teams will lock horns in the decider on Sunday, November 10 at Vidarbha Cricket Association Stadium, Nagpur.
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The parliament's social media team later issued an apology. "So I guess millennials ruined humour. That, or we just need to pull ourselves up by our bootstraps and abstain from avocados".
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Increased bloodshed has forced hundreds-of-thousands of people to flee their homes, igniting a fast-growing humanitarian crisis. At least 37 people have been killed and 60 wounded in an attack on a mining company convoy in Burkina Faso, authorities say.
Energy and industrial stocks also led the pack.
Chevron jumped 4.6%, and Exxon Mobil added 3% as energy stocks overall climbed 3.1% after the price of oil rose.
The price of USA crude oil rose 69 cents to settle at $57.23 a barrel. Brent crude, the global standard, rose 44 cents to $62.13 a barrel.
Defensive stocks, meanwhile, lagged.
In the S&P 500, industrials led gains and real estate led losses.
"Investors are doing what we're theoretically supposed to be doing: We're looking out at the next 12 to 18 months and investing on the basis of where it's going, not on where we're at today", said Tom Stringfellow, chief investment officer at Frost Investment Advisors. This data release gauges the health of the U.S. services sector, which accounts for around four-fifths of the overall United States economy.
Under Armour slumped 18.9% after the company confirmed that its accounting practices are being investigated by federal regulators.
Burger chain Shack Shack shares plunged 19% after disappointing investors Monday evening with a warning that sales will be weaker than expected this fiscal year.
Crude oil futures added 1.13% to $57.18 while Brent crude was virtually flat, off just 0.05% to $62.93.
On currency markets, the British pound was up 0.03% at $1.2886 while the euro was off 0.49% to $1.1075. the US dollar index gained 0.44%.
Wholesale gasoline was unchanged at $1.66 a gallon.