US markets today: Wall Street pauses after rally, S&P 500 edges up; Lithium Americas surges

US stocks showed modest gains on Wednesday as Wall Street paused after a strong rally that pushed major indexes to near record highs.


The S&P 500 rose 0.1% in early trading following its first loss in four days, while the Dow Jones Industrial Average gained 152 points, or 0.3%, AP reported. The Nasdaq composite was up 0.1%, with all three indexes hovering close to all-time peaks set on Monday.



The market’s recent surge, which began after April lows, has been driven by hopes that President Donald Trump’s tariffs will not disrupt global trade and expectations that the Federal Reserve will cut interest rates to support economic growth. Concerns remain that stocks may have become overvalued if anticipated rate cuts do not materialise.



Individual stock movements were mixed. Lithium Americas soared 87.6% after reports that the US government is considering taking an ownership stake in the Canadian company developing a lithium project in Nevada with General Motors. The Energy Department is reviewing additional conditions before the company can draw on a previously announced $2.26 billion government loan.



Cintas fell 1.8% despite posting slightly better-than-expected quarterly profit and revenue. The company supplies work uniforms, restroom products, and other services to clients.



Overseas markets were mixed, with Hong Kong’s Hang Seng rising 1.4% while France’s CAC 40 declined 0.6%. In the bond market, the yield on the 10-year Treasury edged up to 4.13% from 4.12% late Tuesday.