US stocks were mixed on Wednesday, with the Nasdaq gaining on the strength of tech stocks while the S&P 500 was little changed as it marked its longest bull-market run, Reuters explained.
Unless the S&P 500 Index manages a drop down of 20% on 23 August, it will break the record for the longest Bull Run in Wall Street's History.
The index rose as much as 0.57% to a record high of 2872.87 in afternoon NY trading, topping the previous record set on 26 January.
The S&P 500 is up 188.21 points, or 7 percent.
The S&P 500, the market's benchmark index, has gained 323 per cent since bottoming out in March 2009 during the Great Recession, according to FactSet.
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TRADE TENSIONS: Stocks have been buffeted by concerns about mounting trade tensions in recent months between the USA and China, set off by President Donald Trump's tariff policies.
"Bull markets don't die of old age, they die of fright", said Sam Stovall, chief investment strategist for CFRA.
The S&P 500 energy index .SPNY rose 0.9 percent and the S&P 500 materials index .SPLRCM gained 0.6 percent, in tandem with higher prices for oil and metals. Stephen Massoca, senior vice-president at Wedbush Securities in San Francisco, says, "The stock market loves the Trump agenda".
The Russell 2000 index of smaller-company stocks picked up 4.50 points, or 0.3 percent, to 1,722.54, a record. Hong Kong's Hang Seng added 0.6 percent to 27,921.24, while the Shanghai Composite fell 0.7 percent to 2,714.61.
At 9:58 a.m. EDT the Dow Jones Industrial Average was up 87.40 points, or 0.34 percent, at 25,846.09, the S&P 500 was up 10.98 points, or 0.38 percent, at 2,868.03 and the Nasdaq Composite was up 44.45 points, or 0.57 percent, at 7,865.46.
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The scratch-outs also reveal why the jury may have asked for a new verdict form the morning they returned the verdict. Manafort's defense attorney, Richard Wrestling, argued the chit-chat was a sufficient reason to declare a mistrial.
The S&P 500 (.SPX) opened lower by 1.97 points, or 0.07 percent, at 2,860.99. Shares of its industry peers PulteGroup PHM.N , Lennar LEN.N and D.R. Horton DHI.N also rose between 4 percent and 6 percent.
The Nasdaq is up 72.77 points, or 0.9 percent.
Advancing issues outnumbered declining ones on the NYSE by a 2.04-to-1 ratio; on Nasdaq, a 2.66-to-1 ratio favored advancers.
However, most media outlets, including The Associated Press, agree with the S&P and Dow Jones Indices' conclusion that the current bull market is about to become the longest of all time.
Volume on USA exchanges was 5.86 billion shares, compared with the 6.49 billion average over the last 20 trading days.
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The argument has not yet been tested in court, although opposition to the rule proposed today may give the administration a chance to try it out.