All major U.S. indexes have rallied by roughly 2.5% to 3% over the past five trading days, so it’s unsurprising that stocks are now taking a breather.
U.S. stock futures were relatively unchanged Wednesday morning, as investors paused to digest strong gains from the previous sessions.
On Tuesday, the Nasdaq finished at its highest level since September 2000. The Dow Jones Industrial Average is trading 3% below its all-time high, while the S&P 500 is less than 2% shy of its record peak.
Traders have pushed markets higher as worries about the possibility of U.S.-led military strikes on Syria faded. It now looks like a diplomatic resolution may be possible after the Syrian government said it would be willing to turn over its chemical weapons.
Looking ahead to Wednesday, the U.S. Census Bureau will release its monthly report on wholesale trade at 10 a.m. ET.
In corporate news, Men’s Wearhouse is scheduled to report quarterly results after the closing bell.
European markets were muddled in morning trading, with some indexes edging up while others shifted lower. Germany’s benchmark Dax index was rising by nearly 0.4%.
Asian markets closed with relatively flat results.
