The following is an excerpt from Shreya Agarwal | August 11, 2016 | Forbes.com |
The major U.S. stock averages climbed to record highs, as rallying oil, healthy economic data, and better than expected earnings from Kohls and Macy’s lifted the invFestor sentiment.
The S&P 500 gained 0.5% to 2,185.79 led by a rally in energy stocks. The index crossed its earlier high of 2,182.87 set last week. The benchmark index is up 6.9% year-to-date.
The Dow Jones industrial average climbed 0.6% to 18,613.31. The index surpassed its last record of $18,595.03, hit on July 20.
While the Nasdaq crossed its previous record of 5225.48 set on August 9, and sat on a new peak at 5,228.40.
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