Major US equity indices witnessed a mixed opening on Wednesday, with investors keeping a close watch on renewed trade talks between the US and Canada.
Escalating fears of a full-blown trade war had been a primary driver of the recent market movement in either direction over the past several months. Hence, the latest positive trade-related development – the US-Mexico bilateral trade agreement was seen as one of the key triggers for the recent run-up over the past few trading session.
The uptrend was further supported by strong corporate earnings and improvements in economic data. However, a slight upward revision of the US Q2 GDP growth figures failed to inspire the bullish traders, suggesting investors found few reasons to keep pushing the markets higher.
Nevertheless, the S&P 500 Index and tech-heavy Nasdaq Composite Index extended their record-setting run and continued gaining positive traction, while the blue-chip Dow Jones Industrial Average was seen underperforming the broader markets.
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