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Stocks rose early Wednesday, with the S&P 500 close to a record. The index rose 0.4 percent, just below 4,536.95 September 2 high.
A new high for the S&P 500 could limit a volatile trading range that saw the indicator drop nearly 5 percent in September. The recent gains came after a series of notable corporate earnings reports that exceeded Wall Street’s expectations.
Cryptocurrency prices continued to rise and Bitcoin hit an all-time high on Wednesday. According to CoinDesk, after the launch of a Bitcoin futures exchange-traded fund in New York on Tuesday, the cryptocurrency hovered around $67,000 above its record of nearly $64,000 set in April. ETF almost drew $1 billion trading volume, one of the largest fund outflows in history.
On Wednesday, Verizon shares rose 1.7 percent after the company said its profits had increased 45.5 percent in the three months to September compared to the same period last year.
Netflix Shares fell despite reporting better-than-expected subscriber growth in the quarter ended September. The streaming giant gained 4.4 million new subscribers during this period, but faced criticism after the release of a special by the comedian. Dave Chappelle what critics describe as promoting bigotry against transgender people.
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