On Wall Street, all major indices reached record levels for the third consecutive day on Wednesday as new data confirmed the continued stable growth of the U.S. economy.
The Dow Jones strengthened by 0.09 percent to 22,661 points, while the S&P 500 rose by 0.12 percent to 2,537 points, and the Nasdaq index increased by 0.04 percent to 6,534 points.
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The positive sentiment on the world’s largest stock exchange is attributed to further signs of stable growth in the U.S. economy.
After recent data indicated an acceleration in activity in the manufacturing sector, a report released yesterday showed that service sector activities rose the most in 12 years last month.
Analysts say this indicates that the economy is strong enough to withstand a new increase in interest rates, alleviating concerns that the U.S. central bank might raise the cost of money for the third time this year in December.
Additionally, investor hopes for tax reform, which would reduce the tax burden on most Americans and could strengthen consumption, positively influence the market.
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