US STOCKS-Cyclicals lead Wall St higher; Dow, S&P end at records

miércoles 3 de diciembre de 2014 17:23 GYT
 

* Dow, S&P 500 hit intraday and closing records

* U.S. services sector readings show growth

* Energy shares rise for third session

* Indexes up: Dow 0.2 pct, S&P 0.4 pct, Nasdaq 0.4 pct (Updates to close)

By Ryan Vlastelica

NEW YORK, Dec 3 (Reuters) - U.S. stocks rose on Wednesday, with both the Dow and S&P 500 ending at records, as data pointed to improving conditions in the U.S. services sector, boosting cyclical stocks.

Both the Dow and S&P also ticked to intraday records in a quiet session, with many traders looking ahead to tomorrow's key meeting of the European Central Bank.

Cyclical stocks, tied to the pace of economic growth, led on the day, with industrials, materials and energy all up more than 1 percent. Telecom, utilities and consumer staples declined; all are viewed as defensive plays.

The rise in energy came alongside a 0.8 percent rise in the price of crude oil. While the sector rose for a third straight day - up 3.2 percent over that period - it is the only industry group to be negative for 2014.   Continuación...