Stock market today: Wall Street hangs around its records at the start of a shortened trading day

NEW YORK — U.S. stocks are hanging around their records at the start of a shortened trading day before the Fourth of July holiday. The S&P 500 rose 0.1% at the start of Wednesday’s trading, a day after setting an all-time high for the 32nd time this year. The Dow Jones Industrial Average rose 60 points, and the Nasdaq composite was flat after setting its own record. Treasury yields eased following a flurry of economic reports suggesting some softening in the job market.

Tesla was also headed for more gains after Elon Musk's electric car company beat sales expectations on Tuesday. Tesla rose 2.3% before the bell following gains of more than 10% Tuesday and 6% Monday. Markets gained on Tuesday after comments by Fed chief Jerome Powell raised hopes for interest rate cuts.

The week’s most anticipated economic data will arrive on Friday, when the U.S. government reports the total jobs employers added in June. “On the radar is Japan’s Nikkei, which may extend its run above the 40,000 level, with overnight strength in tech while the Japanese yen continues to trade at a 38-year low,” said Yeap Jun Rong, market analyst at IG.

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