Gains in health care, technology and consumer-focused companies helped nudge US stock indexes higher in midday trading Tuesday.
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The Dow Jones industrial average rose 3.76 points, or 0.02 percent, to 18,533.05.
The S&P 500 hit an all-time high of 2,185.54 points Monday morning, although it pulled back to end the day just a notch below Friday’s closing record. The Nasdaq composite index added 7 points, or 0.1 percent, to 5,221. Royal Caribbean Cruises slid $4.90, or 6.6 percent, to $69.08, while Carnival lost $1.38, or 3 percent, to $45.10.
Six of the 10 major S&P 500 indexes were lower, led by a 0.65% decrease in the energy index after U.S. crude oil fell 0.6% to $42.77 a barrel after fluctuating between losses and gains. The UK’s FTSE 100 index rose 0.6 percent, France’s CAC 40 index gained 1.2 percent, while Germany’s DAX index rallied 2.5 percent, bolstered by shares of Munich Re, BMW and Daimler. Benchmark U.S. crude was fell 25 cents, or 0.6 percent, to close at $42.77 per barrel in NY. The Dublin-based company’s shares gained $4.03 to $22.22. Wall Street struggled to shrug off a weaker-than-expected report on US productivity, which has now declined in three straight quarters. Chemours added $1.16, or 12.5 percent, to $10.48, while Vivint gained 38 cents, or 11.9 percent, to $3.57. Data on nonfarm productivity and unit labor costs for the second quarter will be released at 8:30 a.m. ET, while wholesale inventories report for June will be released at 10:00 a.m. ET. Stocks are reacting to a continued rise in oil prices – with September-dated crude futures up 0.2% at $43.09 per barrel – ahead of next month’s highly anticipated meeting among global oil producers.
In Australia, the ASX All Ordinaries Index dropped 0.52%, South Korea’s Kospi Index declined 0.07%, while Hong Kong’s Hang Seng Index added 0.555.
The S&P 500 is down 1.13 points, or 0.1 percent.
Speculation of more economic stimulus to come in China is helping to keep the market aloft. The data, which followed a drop in Chinese exports last month, fueled investors’ expectations that Beijing will implement more stimulus measures in a bid to soften the economy’s slowdown.
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Ticking along on Tuesday: The market mood is cautious after a steady session on Monday.
