US stocks barely budged on Wednesday as an absence of economic catalysts put technicals in focus and kept the S&P 500 near its newest intraday record. The S&P 500 has gained for four straight sessions as investors' appetite for equities has been buoyed by supportive US economic data recently and expectations of monetary easing by the European Central Bank, while the 10-year US Treasury note's yield slipped below 2.44 percent, its lowest level since July.
The Dow Jones Transportation Average extended its run into record territory, hitting a lifetime intraday high of 8,096.09 after closing on Tuesday above 8,000 for the first time. When the transports sector does well, the trend signals an improved outlook for the US economy and the stock market. The Dow Jones industrial average fell 18.19 points or 0.11 percent, to 16,657.31. The S&P 500 gained 1.06 points or 0.06 percent, to 1,912.97. The Nasdaq Composite dropped 3.63 points or 0.09 percent, to 4,233.44.
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