Despite a decline in Tesla, the S&P 500 increased for a sixth day in a row as statistics pointed to ongoing economic expansion.
With a gain of 0.53% to 4,894.16, the broad index set yet another record for closing values. The Dow Jones Industrial Average increased to 38,049.13, up 242.74 points, or 0.64%. A post-earnings decline in Tesla shares contributed to the Nasdaq Composite’s meagre 0.18% gain to 15,510.50.
Though Thursday’s gains were subdued, the technology-heavy Nasdaq has performed better this week and is expected to close 1.3% higher. While the blue-chip Dow has gained 0.5% on the week, the S&P 500 has increased by 1.1%.
For the last six trading days, both the Nasdaq and the S&P 500 have ended the day higher. For the fifth session in a row, the benchmark S&P 500 has closed at a record high—the longest run since November 2021.
Source (CNBC)
