Finance

S&P 500 pushes past 2500

S&P 500 pushes past 2500

The indexes have inched up to several records this year, despite setbacks caused by turmoil in the White House, doubts about President Donald Trump's ability to push through his pro-business reforms, uncertainty over the timing of rate hikes, and lately, tensions over Pyongyang's missile tests.

The S&P 500 also notched record highs, advancing 0.2% to finish at 2,500.23.

The S&P 500 was up 1.44 points, or 0.06 percent, at 2,497.06. All three are on track for their third positive week of the past four.

Wall Street is riding the second-longest bull market in history, with investors repeatedly shrugging off domestic and worldwide turmoil as they pile into shares of technology and other companies.

Boeingrose 1.36% after Deutsche Bank raised its price target on the aerospace and defense stock.

Brick-and-mortar retail stocks weighed on the S&P 500, with Tiffany and Under Armour among the index's biggest laggards.

Most of the major sectors showed only modest moves on the day, although significant strength emerged among semiconductor stocks.

The strength in chip makers offset weakness in Oracle Corp.(ORCL), which fell 7.7% after the software giant's outlook late Thursday came in below Wall Street's expectations. The biggest contributions to the gains were made by stocks in Boeing, 3M and Apple.

Windies humble England in T20
That match saw fellow left-hander Lewis manage the impressive feat of out-hitting Gayle on his way to a stunning and unbeaten 125. Captain Carlos Brathwaite (3-20) and Kesrick Williams (3-35) then undermined England's comeback.

"Investors have been programmed to more or less ignore stuff with Korea".

Behind the recent rally are at least two trends. "We've learned to buy on the dips", said Terry Morris, senior vice president and senior equity manager for National Penn Investors Trust Company.

Posted: Sep. 15, 2017 8:00 am Updated: Sep.

Japan's benchmark Nikkei 225 index edged up 0.1 percent to 19,835.30 but South Korea's Kospi lost 0.4 percent to 2,369.32. The market remains in a firm uptrend despite underlying concerns of overvaluation.

Reports showing an unexpected drop in United States retail sales last month and the first drop in industrial output since January, both in part due to the impact of Hurricane Harvey, were also largely shrugged off by the market.

US crude oil closed unchanged at $49.89/bbl, preserving a 5.1% gain for the week in its best performance in almost two months.

The Fed said Hurricane Harvey is estimated to have reduced the rate of change in total output by roughly three-quarters of a percentage point. The storm also had an effect on consumer sentiment, which fell slightly in August.


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