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%