NEW YORK: Wall Street’s main indexes firmed on early Wednesday ahead of closely watched economic data this week as investors grappled with concerns over inflation and the latest leg of a surge in so-called “meme stocks”.
The technology sector rose 0.9%, providing the biggest boost to the benchmark S&P 500, while communication services and materials eased.
A weekly unemployment report and May private payrolls data on Thursday will be followed by monthly jobs numbers on Friday.
The blue-chip Dow and the tech-heavy Nasdaq are about 1.5% and 3.0% from their respective all-time highs.
At 12:06 p.m. ET, the Dow Jones Industrial Average was up 64.68 points, or 0.19%, at 34,639.99 and the S&P 500 was up 11.18 points, or 0.27%, at 4,213.22. The Nasdaq Composite was up 24.31 points, or 0.18%, at 13,760.79.