There was interesting action during yesterday’s session, as growth (Technology and Communication Services) enjoyed strong interest and gains. But more conservative sectors (Health Care and Real Estate) really surged.I found .04/16/2021 16:26:08PM EST.
By Joe Wallace U.S. stocks inched higher and toward records amid another volley of blue-chip earnings and more signs of economic growth. The Dow Jones Industrial Average rose 0.3%, its third straight day of gains and one day after it hit 34000 for the first time. The S&P 500 rose 0.2% after posting its 22nd all-time closing high of 2021 on Thursday. The Nasdaq Composite bucked the trend, down less than 0.1%. All three indexes are on track for weekly gains of about 1%. The long, steady march higher for U.S. equities this year is itself a sign that the march can continue, said LPL Financial strategist Ryan Detrick. Since 1950, when the S&P 500 was up between 5% and 10% in the first quarter, it was up for the next three quarters nearly 90% of the time, he said, with the average gain about 12%. The index gained 5.8% in the first quarter.
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S&P 500 hits another record, marks fourth weekly gain in a row
Stocks continued to march higher on Wall Street Friday amid a string of encouraging reports on hiring, consumer confidence and spending that point to an accelerating U.S. economy.
By DAMIAN J. TROISE and ALEX VEIGAAssociated Press
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Stocks added to their recent gains Friday, driving the S&P 500 and Dow Jones Industrial Average to new highs.
The S&P 500 rose 0.4 percent, led by gains in companies that rely directly on consumer spending, health care stocks and banks, which benefited from higher Treasury yields. The benchmark index notched its fourth straight weekly gain.
Major indexes are mostly higher in afternoon trading on Wall Street Friday as a tick up in bond yields helped lift bank stocks.
The broad gains in the market were tempered by technology stocks falling, which has typically happened when bond yields move higher. Crude oil prices also slipped and weighed down energy companies.
The S&P 500 was up 0.2% as of 12:54 p.m. Eastern, on track for its fourth weekly gain in a row. The Dow Jones Industrial Average was up 84 points, or 0.3% to 34,120 and the technology-heavy Nasdaq fell 0.1%.
Bond yields were moving higher after falling earlier in the week. The yield of the 10-year Treasury note rose to 1.57% from 1.53% late Thursday. However bond yields are down from the highs they hit earlier in the month, when the 10-year note traded at a yield of 1.75%.
S&P 500 hits another record, marks 4th weekly gain in a row
By DAMIAN J. TROISE and ALEX VEIGA Associated Press April 16, 2021 3:55pm Text size Copy shortlink:
Stocks added to their recent gains Friday, driving the S&P 500 and Dow Jones Industrial Average to new highs.
The S&P 500 rose 0.4%, led by gains in companies that rely directly on consumer spending, health care stocks and banks, which benefited from higher Treasury yields. T