- Wall Street’s main indexes started the day mixed on Tuesday.
- S&P 500 Index touched a fresh all-time high above 3,430.
- Financial shares post strong gains on surging Treasury bond yields.
Major equity indexes in the US started the day little changed on Tuesday but the S&P 500 Index notched a fresh record high of 3,439 at the opening bell. As of writing, the Dow Jones Industrial Average was down 0.07% on the day at 28,299, the Nasdaq Composite was virtually unchanged at 11,373 and the S&P 500 was gaining 0.04% at 3,432.
Among the 11 major S&P 500 sectors, the Financials Index is up 0.6% boosted by a 4.2% increase seen in the 10-year US Treasury bond yield.
On the other hand, the Energy Index is down 0.2% as hurricane Laura is forcing US oil producers in Gulf Coast to reduce their output by 1.5 million barrels per day.
Later in the session, the Conference Board’s Consumer Confidence Index will be looked upon for fresh impetus and an upbeat reading could help US stocks edge higher.