US STOCKS-Wall St climbs for 3rd day as dollar weakens

miércoles 8 de junio de 2016 15:46 GYT
 

* Oil prices hit 2016 highs but energy shares down

* Indexes up: Dow 0.3 pct, S&P 0.3 pct, Nasdaq 0.2 pct (Updates to late afternoon)

By Caroline Valetkevitch

June 8 (Reuters) - U.S. stocks rose for a third straight session on Wednesday as declines in the dollar lifted some commodity-related shares and boosted the outlook for multinationals.

The Dow was again trading above the psychologically key 18,000 level. It briefly rose above that level on Tuesday for the first time since April.

The day's gains put the S&P 500 within about 16 points of its all-time intraday high of 2134.72.

The S&P 500 materials index climbed 0.8 percent following gains in copper and gold prices. Energy shares were lower despite gains in oil prices.

Helping sentiment was a weaker dollar, which tends to benefit U.S. multinationals with a high percentage of overseas sales.

"The weaker dollar and strength in commodity names is certainly helping to fuel the market's strength," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. "Multinational companies are all benefiting and helping to drag the market higher."   Continuación...