* Oil prices rise to near five-week high
* 216,000 jobs added in U.S. private sector this month -
* October consumer spending up 0.3 pct vs. est. 0.5 pct
* GoPro rises after announcing job cuts
* Indexes up: Dow 0.49 pct, S&P 0.41 pct, Nasdaq 0.22 pct
(Updates to open)
By Yashaswini Swamynathan
Nov 30 The Dow and the S&P 500 hit record
intraday highs on Wednesday, fueled by gains in energy and bank
Oil prices soared 7.4 percent as some of the world's largest
producers agreed to curb oil output for the first time since
Shares of oil majors Exxon and Chevron rose
more than 2 percent and were the top stocks on the S&P and the
The S&P 500 energy index rose 3.65 percent as oil
prices were on track for their best day since February.
November is set to be Wall Street's best month since March,
with the markets rallying on Donald Trump's victory in the U.S.
Investors expect the market to benefit from Trump's
policies, including higher spending on infrastructure and
simpler regulations in the healthcare and banking industries.
U.S. private employers stepped up hiring in November and
consumer spending increased last month, the latest signs of
economic strength that could further cement the case for an
interest rate hike.
Traders have currently priced in an 89 percent chance of the
Fed raising rates at its meeting next month, according to
Thomson Reuters data. A crucial monthly hiring report on Friday
is likely to play a big role in the central bank's
The financial index rose 1.42 percent, while seven
of the 11 major S&P sectors fell.
At 9:43 a.m. ET the Dow Jones industrial average was
up 94.4 points, or 0.49 percent, at 19,216, after hitting an
all-time high of 19,225.29.
The S&P 500 was up 9.08 points, or 0.41 percent, at
2,213.74. The index hit a high of 2,214.10.
The Nasdaq Composite was up 11.68 points, or 0.22
percent, at 5,391.60.
Fed Board Governor Jerome Powell and Cleveland Fed president
Loretta Mester are due to speak at separate events later in the
Splunk rose 7 percent to $61.40 after the data
analytics provider forecast full-year revenue above analysts'
GoPro rose 3.3 percent after the wearable camera
maker said it would cut 15 percent of its workforce and shut its
Teen apparel retailer American Eagle Outfitters
dropped 10.6 percent to $16.88 after providing a disappointing
profit forecast for the crucial holiday quarter.
Advancing issues outnumbered decliners on the NYSE by 1,592
to 1,152. On the Nasdaq, 1,443 issues rose and 913 fell.
The S&P 500 index showed 41 new 52-week highs and no new
lows, while the Nasdaq recorded 82 new highs and 12 new lows.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by