Wall Street's benchmarks now just 2% short of records

• The S&P 500 index SPX, +0.21% added 0.2% to close at 2,873.
• The Nasdaq Composite Index COMP, +0.60% closed 0.6% higher at 7,895. 
• The Dow Jones Industrial Average added around 40 points, or 0.2%, at 26,217.

All three benchmarks were about 2% short of record on Wednesday, as investors cheered the reported progress being made between Beijing and Washington trade officials in negotiations which are around 90% of the way towards finally agreeing on a deal. 

The Dow Jones Industrial Average added around 40 points, or 0.2%, at 26,217 on Wednesday although was ending off its best level of the session at 26,282.17, while shares of Boeing Co. BA weighed, confronting problems with its 737 Max fleet of jets after a pair of fatal crashes - Shares in the company closed down by 1.5% on Wednesday.

As for data, analysts at Westpac explained that the March US ISM services sector PMI printed on the low side of expectations at 56.1 (est: 58) from 59.7, an 18-month low though still consistent with reasonable growth momentum. "New orders slipped but employment encouragingly held firm. The ADP survey of employment showed a lower than expected gain of 129k in Mar vs an upwardly revised 197k in the prior month, flagging a loss of hiring momentum through the track record of this report as a gauge of payrolls (due later this week) is an open question."

DJIA levels

The index remains in a bullish phase around the 22nd Feb highs and through the psychological 26000 level, holding above the pivot of 26178. Eyes stay on the 2018 highs at 26951. Bears will otherwise target all the way down to the 23.6% Fibo retracement of the late Dec swing lows to late Feb swing highs at the low end of the twenty-five hundreds. This area guards a break all the way down to the 38.2% Fibo of the same range around 24400.