Friday, July 22, 2016

S&P 500 hits new record high close as stocks rally for 4th week

S&P, stocks, US stocks, business, finance

The technology and commodity stocks and in the driver seat and they are leading the S&P 500 Index for the first time in this last two months. Computer and software companies were the best group in this week trade they powered the benchmark gauge for American equity to a record and its fourth straight weekly advance.

The S&P 500 finished at a new record high close on Friday with the broader market gaining for a fourth week in a row as stocks bounced back from Thursday’s correction. The S&P 500 index rose 10 points, or 0.5%, to end at 2,175 for a weekly gain of 0.6%. The Dow Jones Industrial Average gained 53 points, or 0.3%, to close at 18,570, adding 0.3% for the week. The Nasdaq Composite Index advanced 26 points, or 0.5%, to finish at 5,100, closing the week 1.4% higher.

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