By Geoffrey Smith
Investing.com — U.S. stock markets opened mixed in narrow ranges on Wednesday, as the consolidation that set in after Monday’s surge to record highs continued.
Abundant liquidity and an improving economic outlook – underlined by the International Monetary Fund’s upward revision of its U.S. growth forecast on Tuesday – are keeping sentiment positive, with only concerns about valuations acting as a restraint. Measured on a price-sales ratio, the is currently over 10% more expensive than it had ever been before the pandemic.
By 9:45 AM ET (1345 GMT), the was up 55 points, or 0.2%, at 33,486 points. The S&P 500 was up 0.1% but the was down 0.1%.
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