Stocks are closing moderately higher on Wall Street and the S&P 500 was helped to a new high Thursday by large technology companies that benefitted from lower bond yields.
Bank stocks and energy companies fell, which muted the market’s overall gains. The S&P 500 index gained 0.4%. The Dow Jones Industrial Average rose 0.2% and the technology-heavy Nasdaq Composite climbed 1%. Stocks have benefited this week from a cooling off in the bond market. Yields, which had been steadily ticking higher, have retreated from highs hit earlier in the month.
The S&P 500 rose 17.22 points, or 0.4%, to 4,097.17.
The Dow Jones Industrial Average rose 57.31 points, or 0.2%, to 33,503.57.
The Nasdaq rose 140.47 points, or 1%, to 13,829.31.
The Russell 2000 index of smaller companies rose 19.54 points, or 0.9% to 2,242.60.
For the week:
The S&P 500 is up 77.30 points, or 1.9%.
The Dow is up 350.36 points, or 1.1%.
The Nasdaq is up 349.20 points, or 2.6%.
The Russell 2000 is down 11.31 points, or 0.5%.
For the year:
The S&P 500 is up 341.10 points, or 9.1%.
The Dow is up 2,897.09 points, or 9.5%.
The Nasdaq is up 941.03 points, or 7.3%.
The Russell 2000 is up 267.74 points, or 13.6%.
The Associated Press