Global News

Dow again closes at record high, other indexes slip

Dow again closes at record high, other indexes slip

The benchmark S&P 500 Index (NYSEARCA:SPY) also rose to new records, climbing 0.2% to 2,500.23.

Business inventories increased 0.2% for the month. Forward Management LLC acquired a new stake in shares of SPDR Dow Jones Industrial Average ETF in the second quarter valued at $50,291,000.

The major indexes are hovering at record high levels, with investors now awaiting the Federal Reserve's meeting on September 19-20 to gauge the future path of monetary policy.

The consumer discretionary index fell 0.54%, pulled down by a 0.74% decline in Amazon.com and a 0.93% dip in Walt Disney. The exchange traded fund has net assets and 0.62% volatility this month. It rose 1.6 percent for the week.

The blue-chip index 64.86 points, or 0.3%, to close at 22,268.34.

"Motor vehicle and parts sales tumbled 1.6% in August, but replacement of hurricane-damaged vehicles in coming months will push up sales, and possibly prices, of both used and new vehicles", predicted Berenberg Capital Markets. Industrial production and retail sales figures are due Friday, which could provide more hints on whether the Fed, which meets next week, will remain on track to raise rates by the end of the year. Semiconductors were among the strongest of the day, with the sector up 1.8%.

The UK's FTSE 100 Index sank 1.1 per cent.

Liverpool 1/4 to win against Burnley in Saturday's Premier League clash
The Mirror says the Reds face a fresh fight to keep one of their star players - with Mane attracting interest from Europe. Countless chances went begging for Liverpool in the second period, as Pope was called into action on nice occasions.

Graphics chipmaker Nvidia (NVDA) posted a standout gain after Evercore ISI raised its price target on the company's stock to $250 from $180. That was the index's sixth consecutive advance.

In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Friday. The S&P 500 grabbed a 0.2% gain and small caps outpaced slightly the overall action, leaving the Russell 2000 ahead 0.4%.

Meanwhile, the major European markets all moved to the downside on the day.

United Technologies and Boeing were among the biggest contributors to the Dow industrials' climb, adding roughly 36 points to the index on Thursday.

In the bond market, treasuries showed a lack of direction before closing almost flat for the second straight session. The VIX Volatility Index was lower at 10.20 for a loss of -0.24 points or -2.30%.

The Federal Reserve announcement is likely to be in focus next week, with traders looking for clues on the outlook for monetary policy.


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