US Stock Market Today: S&P 500 Close To Record High, Dow Jones Up 200 Points
S&P 500 is about 0.9% away from its all-time closing high of 6,144.15.
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.
