Wall Street hopes for momentum after a super Tuesday
All eyes will be on Wall Street on Wednesday after stocks closed at a newall-time high on Tuesday, as better-than-expected quarterly profits from some of the largest companies encouraged investors. The S&P 500 hit an all-time high, marking the stock market's complete recovery from a nosedive at the end of last year. The benchmark index's previous record was set last September, shortly before the market sank in the fourth quarter amid fears of a recession, an escalating trade war between the U.S. and China, and concern the Federal Reserve was moving too aggressively to raise interest rates. Still, shares were mostly lower in Asia on Wednesdayas the rally on Wall Street ran out of steam. Investors seemed unswayed by the S&P 500's performance.
All eyes will be on Wall Street on Wednesday after stocks closed at a newall-time high on Tuesday, as better-than-expected quarterly profits from some of the largest companies encouraged investors. The S&P 500 hit an all-time high, marking the stock market's complete recovery from a nosedive at the end of last year. The benchmark index's previous record was set last September, shortly before the market sank in the fourth quarter amid fears of a recession, an escalating trade war between the U.S. and China, and concern the Federal Reserve was moving too aggressively to raise interest rates. Still, shares were mostly lower in Asia on Wednesdayas the rally on Wall Street ran out of steam. Investors seemed unswayed by the S&P 500's performance.
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