By Chelsey Dulaney and Jack Pitcher
The S&P 500 is on pace for another record close, with attention turning to the start of earnings season.
Third-quarter results season gets under way in earnest on Friday, when several of the largest banks are set to report results.
Investors have been largely upbeat lately, with strong economic data offsetting rising tensions in the Middle East and uncertainty over the U.S. elections. On Tuesday, a tech-driven rally left the S&P 500 within striking distance of a new all-time record.
Meanwhile in Asia, China's stimulus-driven rally continued to unwind, weighing on U.S.-listed companies like Alibaba.
In recent trading:
--Indexes rose, with the Dow industrials out in front.
--Treasury yields were broadly steady at slightly over 4%.
--Cruise lines jumped. Norwegian Cruise Line and Carnival were among the S&P 500's best performers after analysts upgraded their stocks.
--Chinese stocks had another roller-coaster day: The Shanghai Composite dropped 6.6% and its Hong Kong equivalent shed 1.4%.
--Brent crude prices dropped close to 2%.
Up ahead:
--Minutes from the Federal Reserve's September meeting, where it kicked off its rate-cutting campaign with a bold half-point reduction, are due at 2 p.m. ET.
The decision wasn't unanimous, with the first dissent from a Fed governor since 2005.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
October 09, 2024 12:22 ET (16:22 GMT)
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