The Dow continued its winning streak while a late selloff caused the Nasdaq to be the lone major index to close Wednesday's session in negative territory.
The Dow Jones Industrial Average rose 0.32%, or 80 points to 25,200, while the S&P 500 gained 0.22%, or 6 points to 2,816. The Nasdaq fell slightly, 0.01%, or less than 1 point to 7,854.
Nest Is Joining Google Home Division Following CEO Departure
Nest, the home security system, will move into Google's (GOOGL) Home division following the departure of CEO Marwan Fawaz just two years after he was named CEO of the company.
Rishi Chandra has taken over as head of the company.
Tech news organization CNET published a recent piece with anonymous sources criticizing Fawaz as just an "operations manager" who delivered "on-time mediocre products." Google released a statement rebutting CNET's report.
"We are accelerating the merger of our Home and Nest teams to provide our users and businesses with even better services under the leadership of Rishi Chandra. Marwan Fawaz is a strong CEO with a track record of operational excellence who led the integration planning efforts and was responsible for determining our organizational strategy," Google said in a statement.
U.S. futures gave no clear indication of the direction markets will go Wednesday with trading for all three major indices vacillating between the green and the red.
Dow and S&P futures were basically flat, indicating opens of 25,106 and 2,811 respectively. Nasdaq futures were down 0.11%, indicating an open 8 points lower.
World markets were equally mixed with the Shanghai Composite and Hang Seng falling 0.39% and 0.23% respectively while the Nikkei rose 0.43%.
In Europe stocks were mostly higher, led by the Dax, which rose 0.7%, the FTSE 100, which gained 0.6%, and the CAC 40, which climbed 0.53%.