February 22, 2018

S&P, Nasdaq Hit Record on Gains in Tech, Financials

30 September 2017, 03:52 | Denise Dawson

Daily December E-mini Dow Jones Industrial Average

E-mini Dow Jones Industrial Average

Technology stocks slipped after gaining for two straight days and Apple's 0.76 percent fall weighed on the S&P and the Nasdaq.

The dollar index, which has gained around 1 percent this week thanks to the Federal Reserve's indications for monetary policy tightening, may also be having an impact on those firms which rely on foreign earnings. For the month of September, the Dow rose 2.1%, the S&P rose 1.9% and the Nasdaq rose 1.1%. The S&P is the only one to make a record close.

In Europe, the pan-European Stoxx-600 index was around 0.03 percent.

Rising expectations for another interest rate hike by the year-end and Trump's tax-cut plan have dominated markets for most of the week.

United States markets opened mixed as investors digested the latest inflation and consumer spending figures.

E-mini S&P 500 Index
Daily December E-mini S&P 500 Index

Another report showed the Chicago purchasing management index, which gauges factory activity, came in better than expected for September.

The S&P 500 and the Dow Jones industrial average were on pace for their eighth-straight quarter of gains, up almost 3.6 percent and about 4.8 percent, respectively. The Dow Jones Industrial Average has added 4.8% in the third quarter and is up 13% year to.

The Dow rose 40.49 points or 0.18% to 22381.20.

About 6.01 billion shares changed hands in USA exchanges, compared with the 6.25 billion daily average over the last 20 sessions.

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