Nasdaq hits record high ahead of US business activity data

The Nasdaq hit a record high shortly after the open on Wednesday with investors razor-focussed on business activity data after Federal Reserve officials sought to calm fears of a sharp tapering of monetary stimulus.

The Nasdaq Composite rose 10.1 points, or 0.07 per cent, to 14263.381 at the opening bell.

The Dow Jones Industrial Average rose 3.0 points, or 0.01%, at the open to 33948.54, while the S&P 500 rose 2.8 points, or 0.07 per cent, at the open to 4249.27.