Morning Report 26 Aug 21: US sharemarkets advanced on Wednesday

Indexes hovered at record highs on low trading volumes. Rising bond yields supported shares of banks JPMorgan Chase (+2.1%), Goldman Sachs (+1.1%) and Wells Fargo (+1.9%). Chip makers were higher, with Western Digital jumping 7.8% after a Wall Street Journal report said the company is in advanced talks to merge with Japan’s Kioxia Holdings. But shares of department store operator Nordstrom dropped 17.6% after its June quarter sales recovery disappointed analysts. The Dow Jones index rose by 39 points or 0.1%. The S&P 500 index rose by 0.2% to record highs. And the Nasdaq index added 22 points or 0.2%, also closing at a record high.  

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