U.S stock benchmarks closed higher on Wednesday, with increased optimism helping the S&P 500 index to register its fourth straight close in positive territory. That marks the S&P 500 index’s
longest win streak since the 7-session period ended May 26, according to FactSet data. The S&P 500 closed 11 points, or 0.5%, at 2,457. The Dow Jones Industrial Average
ended with an advance of 0.1% at 21,892, and the Nasdaq Composite Index
closed 1.1% higher at 6,368, marking its third straight win. Wall Street has been resilient of late, shaking of geopolitical and meteorological headwinds, including North Korea’s firing of a ballistic missile over Japan’s airspace, rising tensions between the U.S. and its Asian allies; and Hurricane Harvey, which has devastated Texas’s Gulf Coast region. Upbeat data on Wednesday helped to support Wednesday’s gains. Gross domestic product, a broad measure of the goods and services produced across the U.S., rose at a seasonally and inflation-adjusted annual rate of 3.0% in the second quarter, the strongest quarter of growth since the first quarter of 2015 and above the 2.6% growth estimated in July. And private-sector job growth reported by ADP Inc.
came in at a better-than-expected 237,000 job created in August.
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Stock market ends higher after better-than-expected data, tax-reform talk