Dow, S&P 500 close at record high amid data, earnings

Ivan Schwartz
July 15, 2017

USA stocks and bonds rallied Friday, with the S&P 500 Index reaching a new intraday high, as us inflation data came in short of Federal Reserve expectations, spotlighting concerns of some central bankers about additional interest rate hikes.

The Dow Jones Industrial Average is one of several indices created by Wall Street Journal editor and Dow Jones & Company co-founder Charles Dow. Phone companies and utilities were among the laggards.

USA stocks gained on Thursday, with the Dow Jones closing at a record for the 24th time in 2017, led by financials ahead of a roster of corporate results from the US's biggest banks. The S&P 500 Index gained 4.58 points, or 0.19%, to 2447.83. The Nasdaq composite outperformed, rising 1.1 percent as shares of PayPal hit a record high. Over the last 12 months, the all items index rose 1.6 percent.

The Dow is up 138.75 points, or 0.7 percent.

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The Nasdaq was up 2.6% for the week, marking its best week of the year.

The Nasdaq and S&P 500 dropped hard just after 10 a.m. ET, during the first half hour of the Fed chair's Senate testimony Thursday.

The Dow Jones rose 15.01 points in early trade to 21,547.15. Small caps posted a weak session, with Russell 2000 futures ending only slightly below the break-even line.

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