Stock futures seek to add to S&P record

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US equity futures are trading with gains before the start of Wednesday’s session on Wall Street.

The retail profits parade continues ahead of the opening bell with results from Lowe’s, Target and TJX Cos.

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Japan’s Nikkei 225 index gained 0.3% to 23,121.32 after the country reported that its exports fell 19% in July from a year earlier, better than expected and an improvement from a drop of 26.2% in June.

JAPAN’S EXPORTS DRIVE AMID PANDEMIC CORONAVIRUS CRUSH

There was an almost 21% drop in exports to the United States, much better than the 50.6% drop in May.

Concerns over trade tensions between the United States and China, which threaten to further disrupt trade between the two countries, pushed the Shanghai Composite index down 1.2%.

Hong Kong markets have been closed due to a tropical storm.

In Europe, London’s FTSE is down 0.2%, Germany’s DAX is 0.3%, and France’s CAC is 0.3% lower.

In Tuesday’s trading, the S&P 500 rose 0.2% to 3,389.78, breaking its previous closing high of 3,386.15. It was set for February 19, before the pandemic shut down businesses around the world and plunged economies into their worst recessions in decades.

Teleprinter security Latest Change Change%
I: DJI MEDIUM DOW JONES 27778.07 -66,84 -0,24%
SP500 S&P 500 3389,78 +7,79 + 0,23%
I: COMP INDEX COMPOSITE NASDAQ 11210.843358 +81,12 + 0,73%

The S&P 500 milestone crowns a furious 51.5% rally that began in late March.

The Dow Jones Industrial Average fell 0.2% to 27,778.07 and is still 6% below its high set in February. The Nasdaq composite had already returned to a record, thanks to huge gains for the big tech stocks that dominate it. It hit a new Tuesday, climbing 0.7%, to 11,210.84.

Investors are still waiting to see if Congress and the White House can put aside their differences and agree on additional help that analysts say is needed to support the recovery that investors say is underway. This assumption is a huge reason why the stock market is as high as it is.

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In energy trading, benchmark US crude for September delivery fell 32 cents to $ 42.57 a barrel in electronic trading on the New York Mercantile Exchange. It was unchanged at $ 42.89 per barrel on Tuesday.

The Associated Press contributed to this article.

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