Stocks grind higher as Dow, S&P flirt with records – Fox Business

U.S. equity markets ticked higher Wednesday as the major averages contended with record highs. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 34634 +34.18 +0.10%
SP500 S&P 500 4233.02 +5.76 +0.14%
I:COMP NASDAQ COMPOSITE INDEX 13956.828308 +31.92 +0.23%

The Dow Jones Industrial Average rose 20 points, or 0.06%, while the S&P 500 and the Nasdaq Composite advanced 0.21% and 0.46%, respectively. 

The Dow must close above 34,777.76 to finish at an all-time high, while the S&P 500 must top 4,232.60. The Nasdaq’s record close is 14,138.78.  

Ticker Security Last Change Change %
CLOV CLOVER HEALTH INVESTMENTS CORP 18.95 -3.20 -14.45%

In stocks, Clover Health Investments Corp. was on track for a third day of big gains as shares continued to benefit from the backing of traders on the Reddit forum WallStreetBets. 

Ticker Security Last Change Change %
AMC AMC ENTERTAINMENT HOLDINGS INC 50.51 -4.53 -8.23%

Meanwhile, AMC Entertainment Holdings Inc., another favorite of the WallStreetBets crowd, was set for sizable losses as shares lingered near all-time highs. 

Ticker Security Last Change Change %
GME GAMESTOP 313.35 +13.15 +4.38%

Fellow meme stock GameStop Corp. will release its quarterly results after the closing bell. Shares of the video-game retailer have soared 1,492% this year. 

Ticker Security Last Change Change %
RACE FERRARI NV 213.07 -5.78 -2.64%

Elsewhere, Ferrari N.V. named Benedetto Vigna, who currently runs the biggest division of chipmaker STMicroelectronics, as CEO. He replaces former chief executive Louis Camilleri, who retired in December due to personal reasons. 

Ticker Security Last Change Change %
CMG CHIPOTLE MEXICAN GRILL INC. 1,335.88 +0.27 +0.02%

Chipotle Mexican Grill Inc. increased prices by about 4% to help offset rising labor costs. The fast-casual restaurant chain plans to hire 20,000 additional employees and raise the average hourly wage to $15 by the end of the month.

Ticker Security Last Change Change %
CPB CAMPBELL SOUP CO. 46.31 -2.78 -5.66%

In earnings, Campbell Soup Co. said its quarterly profit fell 5% as rising material and supply chain costs hurt its bottom line. The company expects margins to remain under pressure as the economy transitions away from the business conditions caused by COVID-19. 

In commodities, West Texas Intermediate crude oil climbed 42 cents to $70.47 a barrel, its highest since October 2018, while gold ticked up $2.10 to $1,896.50 an ounce.

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Overseas markets were mostly lower. 

European bourses were mixed with Britain’s FTSE 100 down 0.21% and Germany’s DAX 30 falling 0.46%. France’s CAC 40 was higher by 0.15%. 

In Asia, Japan’s Nikkei 225 lost 0.35% and Hong Kong’s Hang Seng slid 0.13% while China’s Shanghai Composite edged up 0.32%.