NEW YORK: Wall Street stocks inched higher early Wednesday as markets traded calmly ahead of the final two sessions of 2023.
Stocks have been on an upward trajectory since late October as inflation worries have eased. Analysts were preparing for a quiet period on Wall Street, with no major economic reports Wednesday.
“There is a lack of meaningful news to upset the stock market’s bias,” said Briefing.com analyst Patrick O’Hare.
“Accordingly, in the absence of such news, a material shift in the trading trend is also absent.”
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About 20 minutes into trading, the Dow Jones Industrial Average was up 0.1 percent at 37,575.34.
The broad-based S&P 500 also added 0.1 percent at 4,778.29, along with the tech-rich Nasdaq Composite Index, which stood at 15,094.57.
Microsoft dipped 0.1 percent after the New York Times Company sued the tech giant along with Open AI, alleging that the companies’ powerful artificial intelligence models used millions of articles for training without permission.
Shares of the New York Times Company advanced 0.9 percent.
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