The Trump Effect: Wall Street ends at record highs; eyes on Fed, earnings… American wealth is growing

President Trump is making American’s wealthier than people could image. Wealth has risen an estimated


NEW YORK (Reuters) – Major U.S. stock indexes edged up to record closing highs on Wednesday with sector moves in the S&P 500 showing preference toward so-called defensive stocks, while Wall Street reacted mutedly to the minutes of the most recent Federal Reserve policy meeting.

The Dow Jones Industrial Average .DJI rose 42.21 points, or 0.18 percent, to 22,872.89, the S&P 500 .SPX gained 4.6 points, or 0.18 percent, to 2,555.24 and the Nasdaq Composite .IXIC added 16.30 points, or 0.25 percent, to 6,603.55.

Stocks ended near session highs after Politico reported that Treasury Secretary Steven Mnuchin was pushing president Donald Trump to name Jerome Powell, seen as a safe pick for financial markets, as the next Federal Reserve chairman.