Stocks hit all-time highs as tech rallies

Traders
celebrate after the closing bell on the floor of the New York
Stock Exchange, (NYSE) in New York, U.S., February 6,
2018.
Brendan
McDermid/Reuters

Strong economic data and optimism for easing global trade
tensions powered the S&P 500 and Nasdaq Composite to touch
record highs for a fourth straight session Wednesday.
The dollar fell,
and Treasury yields inched higher. 

Here’s the scoreboard:

Dow Jones industrial
average: 26,125.31 +61.29
(+0.24%)

S&P
500: 2,915.51 +17.99 (+0.62%)

Nasdaq
Composite: 8,109.69 +79.65
(+0.99%)

1. Canadian officials said NAFTA talks
   could wrap up by Friday. Canadian Foreign
   Minister Chrystia Freeland met with US Trade Representative
   Robert Lighthizer for a second session of negotiations, days
   after President Donald Trump
   threatened to terminate the 24-year-old trade pact and to
   hit Canada with auto tariffs. 
2. The US economy expanded
   slightly faster than initially thought in the second
   quarter, bringing the growth rate to a four-year
   peak. Gross domestic product grew at 4.2% last
   quarter, the fastest pace since 2014 and up 0.1 percentage
   points from the advance estimate, according to revisions by the
   Commerce Department.
3. US
   corporate profits jumped to a six-year high last
   quarter. Thanks to a boost from tax cuts and a humming
   economy, a broad measure of corporate profits by the
   Commerce Department rose 16.1% in the second quarter from a
   year before.
4. OPEC will meet to discuss US sanctions against
   Iran. The cartel is planning to discuss whether
   producers can make up for an anticipated sharp drop in global
   oil supply come November, when the US enacts sanctions on
   Iranian barrels, Reuters
   reports.

And a look at the upcoming economic calendar:

• Consumer spending numbers are out in the US. 
• Canada reports monthly GDP.