Tech, financials help drive S&P, Nasdaq to record

Nichole Vega
September 30, 2017

Technology stocks slipped after gaining for two straight days and Apple's 0.76 percent fall weighed on the S&P and the Nasdaq. (FB) rose 1.2% while Alphabet Inc. He did that again on Friday, cheering the "RECORD HIGH" for the S&P 500.

NASDAQ measures a number of indices reflecting the reaction of USA's high tech markets and business environments on the country's political and economic developments which have an impact on high tech markets. The S&P 500 edged up about one-tenth of a percent to finish at 2,510.0-6.

In Europe, the pan-European Stoxx-600 index was around 0.03 percent.

"You see the market giving back a bit from yesterday, it's taking some profits off the reflation move", said Jeff Zipper, managing director at the U.S. Bank Private Client Reserve in Palm Beach, Florida.

Another report showed the Chicago purchasing management index, which gauges factory activity, came in better than expected for September.

For the week, the Dow rose 0.2% and the S&P added 0.7%, with both rising for the third straight week, while the Nasdaq climbed 1.1%; small-caps were the week's biggest winners, as the Russell 2000 jumped 2.8%. The Dow Jones Industrial Average, up 0.25% on the week, missed out on setting a new record. The Nasdaq rose 1.1%.

About 6.01 billion shares changed hands in US exchanges, compared with the 6.25 billion daily average over the last 20 sessions.

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