The US markets closed mostly higher on Wednesday, with the S&P 500 staying around 2,000 a day after it closed over that milestone. Global markets are surmounting crises in Ukraine, the Gaza Strip and Iraq as investors renew bets that stimulus will revive growth. While no major US economic reports came out on Wednesday, the data calendar gets busier later this week, with the second estimate on second-quarter US gross domestic product on Thursday and consumer-confidence numbers due Friday. A new survey released by the National Association of Business Economists (NABE) showed that a majority (53 percent) of these economists say the Federal Reserve’s stimulus program is on the right track. A little more than one-third (39 percent) believed the United States central bank was doing too much. The semiannual survey also found that a strong majority of NABE economists think that US will face little to no inflation risk at all within the next several years.
The Dow Jones Industrial Average added 15.31 points or 0.09 percent to 17,122.01, the S&P 500 ended higher by 0.10 points to 2,000.12 while, the Nasdaq was down by 1.02 points or 0.02 percent to 4,569.62.
The Indian ADRs closed in green on Wednesday; Tata Motors was up 0.78%, HDFC Bank was up by 0.47%, ICICI Bank was up by 0.39%, Dr. Reddy’s Lab was up by 0.36% and Wipro was up by 0.28%.