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8/25, 10:00 PM (Source: TeleTrader)
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US closes with gains, Nasdaq, S&P at record highs

United States major stock markets closed the trading session on Wednesday higher with S&P 500 and Nasdaq 100 hitting all-time highs. The markets reacted to pharma's positive advances on the status of their vaccine and booster jabs. J&J claimed that its booster shot increases protection ninefold.

Additionally, investors sold bonds letting 10-year Treasury notes rise to the highest level since earlier this month and lifting financial services stocks, such as JPMorgan Chase and American Express. Meanwhile, as the US House passes the $3.5 trillion budget and locks in a vote for the $1 trillion infrastructure bill, shares of manufacturing and building companies also saw growth. However, new orders for the US manufactured durable goods decreased by 0.1% since last month with transportation equipment leading the decline.

The Dow Jones was 0.11% in the green at the closing bell with American Express growing by 3.05%, while the S&P 500 gained 0.22% as Penn National Gaming soared by 8.66%. The Nasdaq 100 climbed 0.7% led by Okta jumping by 5.32%. The euro advanced by 0.13% against the dollar exchanging hands for $1.17713 at 4:17 pm ET.

Breaking the News / LH