Wednesday, November 27, 2013

Stocks’ record run continues: Futures climb

Major premarket benchmarks traded higher on Wednesday morning.

Dow Jones industrial average index futures gained 0.5%, Standard & Poor's 500 index futures climbed 0.6% and Nasdaq index futures added about 3%.

In Asia, China's Shanghai composite index was down 1.3%, Hong Kong's Hang Seng index lost 1.4% and Japan's Nikkei 225 was off nearly 2% as the yen gained against the U.S. dollar, which can hurt sales and profits at Japanese exporters.

WALL STREET: Stocks breaking all-time highs

DOW: Not part of stocks' record run

Slower U.S. hiring and reports of tighter money market conditions in China that could check its economic recovery were acting as a weight for the region.

In Europe, stocks mostly fell, breaking a recent winning streak. The United Kingdom's FTSE 100 index dropped 0.4% and the DAX index in Germany was down by a similar amount. Spain's IBEX 35 index retreated over 1% even though there was some positive growth data there. The Bank of Spain estimates that the Iberian nation has now exited recession for the first time in over two years.

In the prior session, the Dow gained 0.5% to 15,467.66, the Nasdaq rose 0.2% to 3,929.57 and the S&P 500 added 0.6% to close at an all-time high of 1,754.67.

TUESDAY: S&P rises to fourth consecutive record close

In energy trading, benchmark U.S. crude for December delivery was down 83 cents at $97.47 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $1.38 to $98.30 on Tuesday.

Contributing: Associated Press

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