AGL 38.30 Decreased By ▼ -1.28 (-3.23%)
AIRLINK 127.20 Decreased By ▼ -4.02 (-3.06%)
BOP 6.90 Increased By ▲ 0.09 (1.32%)
CNERGY 4.42 Decreased By ▼ -0.29 (-6.16%)
DCL 8.05 Decreased By ▼ -0.39 (-4.62%)
DFML 37.60 Decreased By ▼ -3.87 (-9.33%)
DGKC 77.85 Decreased By ▼ -4.24 (-5.17%)
FCCL 30.98 Decreased By ▼ -2.12 (-6.4%)
FFBL 70.01 Decreased By ▼ -2.86 (-3.92%)
FFL 11.93 Decreased By ▼ -0.33 (-2.69%)
HUBC 106.25 Decreased By ▼ -4.49 (-4.05%)
HUMNL 13.60 Decreased By ▼ -0.91 (-6.27%)
KEL 4.80 Decreased By ▼ -0.39 (-7.51%)
KOSM 7.19 Decreased By ▼ -0.42 (-5.52%)
MLCF 36.90 Decreased By ▼ -2.00 (-5.14%)
NBP 67.25 Increased By ▲ 3.24 (5.06%)
OGDC 184.50 Decreased By ▼ -8.32 (-4.31%)
PAEL 24.35 Decreased By ▼ -1.33 (-5.18%)
PIBTL 7.19 Decreased By ▼ -0.15 (-2.04%)
PPL 144.70 Decreased By ▼ -9.37 (-6.08%)
PRL 24.73 Decreased By ▼ -1.10 (-4.26%)
PTC 16.65 Decreased By ▼ -1.16 (-6.51%)
SEARL 78.75 Decreased By ▼ -3.55 (-4.31%)
TELE 7.35 Decreased By ▼ -0.41 (-5.28%)
TOMCL 32.04 Decreased By ▼ -1.42 (-4.24%)
TPLP 8.10 Decreased By ▼ -0.39 (-4.59%)
TREET 16.40 Decreased By ▼ -0.22 (-1.32%)
TRG 54.78 Decreased By ▼ -2.62 (-4.56%)
UNITY 27.55 Increased By ▲ 0.04 (0.15%)
WTL 1.31 Decreased By ▼ -0.06 (-4.38%)
BR100 10,185 Decreased By -319.6 (-3.04%)
BR30 29,913 Decreased By -1313.1 (-4.2%)
KSE100 95,611 Decreased By -2468.8 (-2.52%)
KSE30 29,769 Decreased By -790.2 (-2.59%)

The benchmark S&P 500 index surged past the 2,700-mark for the first time on Wednesday and other major indexes hit record intraday highs as technology stocks climbed amid indications of robust economic growth in the US and overseas. The technology sector was boosted by a rise in shares of Oracle, IBM and chipmakers. The index - the best-performing S&P 500 sector in 2017 with a 37-percent jump - was up 1.08 percent.
"Tech sector got beaten up right toward the end of the year and is seeing a rebound. It stands to benefit the least from the tax plan, but large caps that have the largest overseas holdings will benefit from ability to repatriate money," said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas. A report showed US factory activity increased more than expected in December, in a further sign of strong economic momentum at the end of 2017. Meanwhile, manufacturing surveys pointed to a strong start for the European economy.
The manufacturing data came ahead of the scheduled release of the Federal Reserve's minutes of its December policy meeting. Investors are likely to scan the release for hints on rate tightening action in the coming months and the impact of the US tax overhaul on the economy and inflation.
The odds of an interest rate hike in March jumped to 61.9 percent from 56.3 percent after the data, according to CME Group's Fedwatch tool. At 12:40 am ET (1740 GMT), the Dow Jones Industrial Average was up 58.72 points, or 0.24 percent, at 24,882.73 and the S&P 500 was up 13.77 points, or 0.51 percent, at 2,709.58. The Nasdaq Composite was up 50.44 points, or 0.72 percent, at 7,057.33.

Copyright Reuters, 2018

Comments

Comments are closed.