Dow, S&P hit new record highs on oil prices, data

NEW YORK, Nov. 30 (Xinhua) -- U.S. stocks traded mostly higher on Wednesday, with Dow and S&P 500 refreshing record highs, as investors eyed a sharp rally in oil prices and newly-released economic data.

At midday, the Dow Jones Industrial Average rose 81.05 points, or 0.42 percent, to 19,202.65. The S&P 500 gained 3.45 points, or 0.16 percent, to 2,208.11. The Nasdaq Composite Index was down25.75 points, or 0.48 percent, to 5,354.17.

Traders kept a close eye on surging oil prices amid a key meeting of the Organization of the Petroleum Exporting Countries(OPEC) in Vienna.

OPEC announced member states agreed on 1.2 million barrels a day oil output cut. Both U.S. oil and Brent crude soared over 7.5 percent around midday Wednesday.

On the economic front, U.S. private sector employment increased by 216,000 jobs from October to November, well above market estimates, according to the November ADP National Employment Report Wednesday.

The ADP figure is watched closely as a pre-indicator for the non-farm payrolls report due Friday.

U.S. personal income increased 98.6 billion U.S. dollars, or 0.6 percent, in October, according to Commerce Department Wednesday.

Disposable personal income increased 86.5 billion dollars, or0.6 percent, and personal consumption expenditures increased 38.1 billion dollars, or 0.3 percent. Enditem

[ Editor: 刘家铭 ]
 

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