US Stock Market Today: S&P 500 Close To Record High, Dow Jones Up 200 Points

US market opened higher for the fourth session on Thursday as well, with the Dow Jones Industrial Average advancing over 208 points or about 0.4%, just after the opening bell. The tech-heavy Nasdaq Composite increased 0.2%, gaining about 53 points.

The S&P 500 gained 0.3% to trade above 6,100 points. Among major companies, shares of Dell Tech was trading over 3% higher. Names like Equinix and Chipotle Mexican Grill were down.

The broader index is about 0.9% away from its all-time closing high of 6,144.15. It’s also around 0.9% off its record intraday high of 6,147.43.

With technology stocks powering major US indices toward record highs, technical analysts see the makings of a selloff in the coming months unless more sectors join the rally, according to Bloomberg.

The S&P 500 Index’s rebound from its tariff-fueled April slide has left it less than 1% from an all-time high. Among the 11 S&P sectors, information technology, industrials and communication services are the only three that have touched all-time highs.

But so far, market breadth or the percentage of the S&P 500 members trading above their 200-day moving average, hasn’t budged since May.

The yield on 10-Year treasuries declined three basis points to 4.27% and spot gold fell 0.3% to $3,321.10 per ounce. Bitcoin fell 0.7% to $107,130.

Bloomberg Dollar Spot Index fell 0.5% while the MSCI World Index rose 0.3%. The Japanese Yen also rose 0.7% to 144.25 per dollar.