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Home>S&P 500 Aims for Longest Streak of Record Highs in 20 Years

S&P 500 Aims for Longest Streak of Record Highs in 20 Years

S&P 500 Aims for Longest Streak of Record Highs in 20 Years

10/05/2017

 By Riva Gold -- Major U.S. stock indexes head for fresh records -- Spanish assets recover -- Stocks little changed in Asia 

U.S. stocks rose Thursday, putting the S&P 500 on course for its longest streak of record closes in 20 years.

The broad index added 0.2%, a day after gains in internet companies helped push the S&P 500 to its seventh straight session of advances. The Dow Jones Industrial Average gained 25 points, or 0.1%, to 22686, while the Nasdaq Composite added 0.3%.

Shares of technology companies, big contributors to this year's rally, continued to help push indexes higher. PayPal Holdings gained 1%, while Netflix rose 2.7%.

Apple advanced about 1% after the company released a software update that it said addresses some cellular-connectivity issues that have affected its newest smartwatch. Apple suffered its worst month of the year in September after falling 6%.

Shares of Constellation Brands gained 4% after the Corona brewer's results showed strong beer sales.

The yield on the benchmark 10-year Treasury note edged up to 2.337%, according to Tradeweb, from 2.332% on Wednesday. Yields rise as bond prices fall.

Utilities shares, considered bondlike because of their hefty dividends, were down 0.3%.

U.S. stocks have enjoyed small bumps higher in recent sessions amid signs that the economy remains on track and earnings growth continues to look solid.

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