Big gains in energy, materials and industrials sectors, following a rebound in oil and gold prices, helped propel the S&P 500 and Dow Jones Industrial Average to record levels on Wednesday. The S&P 500 SPX, +0.38% both set an intraday record and closed at a record for the 48th time this year, after gaining 7.77 points, or 0.4%, to 2,074.32.
The ICE U.S. dollar index rose Wednesday to its highest level since March 2006 as the dollar rally gained momentum, spurred in part by a strong gauge of service-sector growth in the U.S. economy, ahead of a policy statement from the European Central Bank. The dollar index DXY, +0.03% which measures the greenback’s value against a basket of six currencies, was up 0.34% to 88.94. The euro EURUSD, -0.05% traded at $1.23, its lowest level since July 2012. It traded at $1.24 late Tuesday. The dollar USDJPY, +0.09% rose to 119.80 yen, its highest level since July 2007, as speculators drove the currency nearer to the psychologically significant ¥120 level. It traded at ¥119.22 late Tuesday. The pound GBPUSD, -0.01% traded at $1.57 Wednesday afternoon, having recovered most of its losses from Tuesday’s session.
January gasoline RBF5, +0.72% retreated less than a penny, or 0.3%, to settle at $1.8070 a gallon on Nymex. That was gasoline’s lowest settlement since October 2009. January heating oil HOF5, +0.61% lost 2 cents, or 1%, to finish at $2.1334 a gallon on Nymex. Natural gas for January delivery NGF15, -0.32% fell 7 cents, or 1.8%, to end at $3.8050 per million British thermal units. Natural-gas futures have ended lower for five straight sessions.
Big gains in energy, materials and industrials sectors, following a rebound in oil and gold prices, helped propel the S&P 500 and Dow Jones Industrial Average to record levels on Wednesday.
The ICE U.S. dollar index rose Wednesday to its highest level since March 2006 as the dollar rally gained momentum, spurred in part by a strong gauge of service-sector growth in the U.S. economy, ahead of a policy statement from the European Central Bank.
January gasoline RBF5, +0.72% retreated less than a penny, or 0.3%, to settle at $1.8070 a gallon on Nymex. That was gasoline’s lowest settlement since October 2009. January heating oil HOF5, +0.61% lost 2 cents, or 1%, to finish at $2.1334 a gallon on Nymex.