Stocks Hit Record High

U.S. stocks traded higher on Wednesday lifting the Dow Jones Industrials, the S&P 500 and the Nasdaq to new records as financial markets closed early for the July 4th holiday.

TickerSecurityLastChange%Chg

I:DJI

DOW JONES AVERAGES

26966

+179.32

+0.67%

SP500

S&P 500

2995.82

+22.81

+0.77%

I:COMP

NASDAQ COMPOSITE INDEX

8170.231057

+61.14

+0.75%

President Trump celebrated the milestone tweeting a "congratulations!" noting the 19 percent annual gain for the broadest measure of stocks.

Donald J. Trump✔@realDonaldTrump
S&P 500 hits new record high. Up 19% for the year. Congratulations!

Investors are now betting on a rate cut by the Federal Reserve is looking more likely. Private employers added just 102,000 jobs to their payrolls in June, according to the latest ADP National Employment Report -- missing analyst expectations of 140,000. A potential sign the U.S. economy is losing some momentum. Initial claims for state unemployment benefits dropped by 8,000 to a seasonally adjusted 221,000 for the week.

As a result bond yields tumbled on fears of a global recession and expectations of interest rate cuts by central banks.

Even with the shortened trading session, deal-making is still on the table. Shares of Symantec Corp surged after sources told Reuters that chipmaker Broadcom is in advanced talks to buy the cybersecurity firm.

TickerSecurityLastChange%Chg

AVGO

BROADCOM LIMITED

284.89

-10.44

-3.54%

SYMC

SYMANTEC CORPORATION

25.10

+3.00

+13.57%

And in auto news,Tesla set new production and delivery records in the second quarter, a major achievement for the electric carmaker that has struggled to scale manufacturing operations. Overall, the firm delivered 95,200 cars, a 51 percent increase over the prior three months. Tesla shares jumped nearly 5 percent.

TickerSecurityLastChange%Chg

TSLA

TESLA INC.

234.90

+10.35

+4.61%

July is building on what was a strong June for U.S. investors with the Dow Jones Industrial Average registering the best performance since 1938, the S&P 500 the best since 1955 and the Nasdaq Composite the best since 2000.

title

Content Goes Here