US stocks extend gain; Nasdaq hits new high

Dhaka,  Monday,   2016-09-23
Published : 23 Sep 2016, 10:34:24

US stocks extend gain; Nasdaq hits new high

US stocks extend gain; Nasdaq hits new high
US stocks climbed on Thursday, with big tech names leading broad gains, building on strength from a day earlier that was fueled by the Federal Reserve's decision to stand pat on interest rates.

The S&P 500 tallied its best two-day performance in more than two months, while the Nasdaq closed at a record high.

The Dow Jones industrial average rose 98.76 points, or 0.54 per cent, to 18,392.46, the S&P 500 gained 14.06 points, or 0.65 per cent, to 2,177.18 and the Nasdaq Composite added 44.34 points, or 0.84 per cent, to 5,339.52.

The three indexes recorded their third straight session of gains.

Concerns over whether the Fed would raise rates prompted a return of stock market volatility in recent weeks after two months of calm. For the year, the benchmark S&P 500 is up 6.5 per cent.

All 11 major S&P sectors closed in positive territory, led by a 1.9-per cent gain for the real estate sector .SPLRCR.

Shares of Amazon.com (AMZN.O) rose 1.9 per cent to close above $800 for the first time following a price target raise by BMO. Apple (AAPL.O) shares gained 0.9 per cent after positive analyst reports.

The stocks were the biggest positive influences on the S&P.

About 6.8 billion shares changed hands on US exchanges, in line with the daily average for the past 20 trading days.

NYSE advancing issues outnumbered decliners 4.84-to-1; on Nasdaq, a 2.54-to-1 ratio favored advancers.

The S&P 500 posted 28 new 52-week highs and no new lows; the Nasdaq Composite recorded 165 new highs and 14 new lows, according to Reuters.

-SRS-
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