Dow, S&P close out impressive week at new all-time highs

17 September, 2017, 11:16 | Author: Leticia Walters
  • Reuters     
       A passerby in Tokyo walks under a TV screen reporting news about North Korea's latest missile launch

USA stocks advanced Friday, with the Dow extending its record-breaking streak to four days, as tech shares led the market higher.

Industrial production in the USA fell 0.9 percent in August, the biggest drop in eight years, as Harvey knocked numerous oil refining, plastics and chemicals factories out of business for a time.

The Dow added 0.2% to end at 22,203 points, while the S&P 500 lost 0.11% to 2,496.

Sep 14 is a positive day so far for Guggenheim Dow Jones Indl Avg Div ETF (NYSEARCA:DJD) as the ETF is active during the day after gaining 0.26% to hit $31.5 per share. Stocks in Apple and Facebook posted notable gains. Oil ended near $50 a barrel to cap its best week since July.

It measures the daily stock price movements of 30 large, publicly-owned USA companies.

In Asia, stocks were mostly lower on Friday in morning session after North Korea fired off another missile over Japan, ratcheting up geopolitical tensions and denting investor sentiment. The institutional investor owned 7,668 shares of the company's stock after selling 933 shares during the period.

The S&P 500 Index rose 0.2 percent to 2,500.22 as of 4 p.m. The Nasdaq Composite closed at 6,448.47 for a gain of 19.38 points or 0.30%. They yielded 1.06 percent and 1.19 percent in when-issued trading.

US gold futures fell 0.16 percent to $1,327.20 an ounce.

PRICES: U.S. consumer prices grew 0.4 percent in August, according to the Labor Department, and they're up 1.9 percent over the past year.

The Federal Reserve is meeting next week and investors wondered if Thursday's report makes it more likely the Fed will raise interest rates later in the year. The Federal Reserve said the weather and flooding was responsible for nearly all of the loss.

"Disappointing retail sales growth suggests 3Q consumer spending growth will slow markedly from 2Q's 3.3% rate; however, we still think other components can provide offsetting support within the GDP report", said James Knightley, the chief global economist at ING. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by less than a basis point to 2.202 percent.

Britain's FTSE 100 fell 0.9 percent while the French CAC 40 rose 0.1 percent and Germany's DAX fell 0.2 percent.

Wholesale gasoline rose 3 cents to $1.66 a gallon.

S&P 500 measures the performance of 500 widely held common stocks of large-cap USA companies.

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