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Friday, 29 September 2017

S&P 500, Nasdaq hit records on tech lift

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The S&P 500 and the Nasdaq advanced to record levels on Friday, buoyed by gains in technology stocks, while each of the major indexes closed out the quarter with solid gains.
Technology was the best performing of the major S&P sectors, up 0.75 percent, its fourth straight day of gains to recover from a selloff earlier in the week.
The S&P and Nasdaq closed at records for the third straight day and the benchmark S&P index posted its sixth straight month of gains.
The Dow Jones Industrial Average rose 23.89 points, or 0.11 percent, to 22,405.09, the S&P 500 gained 9.3 points, or 0.37 percent, to 2,519.36 and the Nasdaq Composite added 42.51 points, or 0.66 percent, to 6,495.96.
The S&P and the Dow recorded eight straight quarters of gains, the Nasdaq five. The Dow climbed 4.9 percent for the third quarter, the S&P advanced 4 percent and the Nasdaq gained 5.8 percent.
Meat processor Tyson Foods jumped 7.64 percent after the company raised its full-year profit forecast. The stock was the biggest gainer on the S&P.
Advancing issues outnumbered declining ones on the NYSE by a 1.50-to-1 ratio; on Nasdaq, a 1.35-to-1 ratio favored advancers.
About 6.01 billion shares changed hands in US exchanges, compared with the 6.25 billion daily average over the last 20 sessions.

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