Dow35405.50+39.24(0.11%)Nasdaq15041.84+22.06(0.15%)SP 5004496.19+9.96(0.22%)10-yr Note -3/321.329NYSEAdv 1885 Dec 1332 Vol 733.3 mlnNasdaqAdv 2490 Dec 1875 Vol 3.6 bln Industry Watch Strong: Financials, Energy, Industrials, MaterialsWeak: Health Care, Information Technology, Consumer Staples, Real Estate Moving the Market -- S&P 500 and Nasdaq eke out record highs as bull market continued to attract buying interest in slow, summer session -- Relative strength in financials sector amid some curve-steepening activity -- Lighter trading volume at the NYSE S&P 500 and Nasdaq eke out new highs (again)Dow +39.24 at 35405.50, Nasdaq +22.06 at 15041.84, S&P +9.96 at 4496.19 [BRIEFING.COM] The S&P 500 (+0.2%) and Nasdaq Composite (+0.2%) eked out intraday and closing record highs on Wednesday, as the bull market continued to attract buying interest in a lower-volume session. The S&P 500 tagged the 4,500 level for the first time but struggled to break above it. The Dow Jones Industrial Average increased 0.1%, and the Russell 2000 increased 0.4%. Buyers appeared slightly more interested in the value/cyclical names, as Delta variant concerns continued to wane amid hopes that infection rates are peaking and that more people will get vaccinated. A bump in long-term interest rates corroborated the optimistic outlook: the 10-yr yield rose five basis points to 1.34%. The S&P 500 financials sector (+1.2%) keyed off the curve-steepening activity, rising to the top of the leaderboard while the energy sector (+0.7%) continued to rebound with oil prices ($68.34, +0.84, +1.2%). The industrials (+0.6%) and materials (+0.4%) sectors rose modestly. The semiconductor space was another pocket of relative strength, driven in part by a DigiTimes report indicating that Taiwan Semi ($TSM 117.03, +4.92, +4.4%) plans to increase prices of more advanced chips by 10-20% next year. The Philadelphia Semiconductor Index advanced 0.8%. Conversely, the health care (-0.3%), information technology (-0.1%), real estate (-0.2%), and consumer staples (-0.1%) sectors underperformed with small declines as demand for defensive-oriented stocks decreased. In other developments, Johnson & Johnson ($JNJ 174.23, -1.16, -0.7%) announced interim data that supported a booster shot for its COVID-19 vaccine, the House advanced the $3.5 trillion budget resolution and the $1 trillion bipartisan infrastructure bill through procedural hurdles, and companies continued to beat earnings expectations. Shares of Dicks Sporting Goods ($DKS 129.60, +15.21, +13.3%) rose 13% following its earnings report, which included upbeat FY21 guidance, a 21% increase to its quarterly dividend, and a special dividend of $5.50 per share. Smaller retailers Nordstrom ($JWM 31.14, -6.67, -17.6%) and Urban Outfitters ($URBN 36.86, -3.87, -9.5%) struggled following their reports. The CBOE Volatility Index (16.79, -0.43, -2.5%) retraced below the 17.00 level, reflecting decreased hedging interest as the major indices drifted higher on another slow, summer day. The 2-yr yield increased one basis point to 0.23%. The U.S. Dollar Index decreased 0.1% to 92.83.Reviewing Wednesday's economic data: Total durable goods orders declined 0.1% month-over-month in July (Briefing.com consensus -0.3%) and orders, excluding transportation, increased 0.7% (Briefing.com consensus +0.3%) following an upwardly revised 0.6% increase (from 0.3%) in June. On a year-over-year basis, durable goods orders were up 25.3%, while orders, excluding transportation, were up 17.7%.The key takeaway from the report is that nondefense capital goods orders, excluding aircraft -- a proxy for business spending -- were flat after increasing 1.0% in June.The weekly MBA Mortgage Applications Index increased 1.6% following a 3.9% decline in the prior week. Looking ahead, investors will receive the second estimate for Q2 GDP and the weekly Initial Claims and Continuing Claims report on Thursday. S&P 500 +19.7% YTDNasdaq Composite +16.7% YTDDow Jones Industrial Average +15.7% YTDRussell 2000 +13.4% YTDSource: (Briefing.com) Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page. .