Nasdaq tops record mark for 2nd day

Markets sizing up Trump

Utilities, real estate and other big-dividend-paying companies led U.S. stocks mostly higher yesterday, pushing the Nasdaq composite to a new record for the second day in a row. The gains by big-dividend-stocks came as bond yields fell, making those traditional safehaven companies more a tt ra c t ive to investors seeking income.

While investors have been focused in recent weeks on companies reporting their quarterly results, they are also trying to size up whether the Trump administration will deliver on expectations of business-friendly policies that helped fuel the market rally last fall.

The Standard & Poor’s 500 index rose 1.59 points, or 0.1 percent, to 2,294.67. The Dow Jones industrial average fell 35.95 points, or 0.2 percent, to 20,054.34. The Nasdaq added 8.23 points, or 0.2 percent, to 5,682.45. The index also closed at a record high on Tuesday and last Friday.

The Russell 2000 index of small-company stocks fell 2.32 points, or 0.2 percent, to 1,358.74.

The stock indexes headed lower as trading opened yesterday and investors weighed the latest company earnings.

The market recovered some of its losses by midmorning after crude oil prices turned higher following an early slide.

Ma jo r stock indexes in Europe were mixed.

Germany’s DAX fell 0.1 percent, while France’s CAC 40 rose 0.3 percent. The FTSE 100 index of leading British shares was flat. Earlier in Asia, Tokyo’s Nikkei 225 rebounded from early losses to rise 0.5 percent, while Hong Kong’s Hang Seng added 0.7 percent. Sydney’s S&P ASX 200 gained 0.5 percent.

In other energy futures trading, wholesale gasoline rose 7 cents, or 4.4 percent, to $1.55 a gallon, while heating oil added 1 cent to $1.64 a gallon.

The dollar fell to 112.05 yen from 112.19 yen on Tuesday. The euro weakened to $1.0687 from $1.0696.