S&P 500 set to log longest streak of records in 20 years as stock market opens at all-time highs
U.S. stock benchmarks opened modestly higher on Thursday, but enough to book fresh records, as investors bought technology stocks, as investors pored over speeches from several Federal Reserve officials and a key employment report on Friday. The Dow Jones Industrial Average traded flat at 22,657, the S&P 500 index advanced 0.1% at 2,540. If the broad-market benchmark finishes with a record on Thursday it will market its longest string of all-time high closes, six consecutively, since 1997, according to WSJ Market Data Group. Philadelphia Fed President Patrick Harker said he is expecting on additional rate hike in December, during a speech in Austin. Meanwhile, the Nasdaq Composite Index enjoyed the best opening bump, up 0.4% at 6,563. In corporate news, United Parcel Service Inc. (UPS) fell 2.3%, while FedEx Corp. (FDX) was down after Bloomberg reported that Amazon.com Inc. (AMZN) was testing a new delivery service. On Friday, the market will assess the Labor Department's nonfarm-payrolls report.
-Mark DeCambre; 415-439-6400; AskNewswires@dowjones.com
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