Markets Right Now: Stocks push through record highs
NEW YORK (AP) — The latest on developments in financial markets (all times local):
A wave of buying sent U.S. stocks solidly higher, pushing the Dow Jones Industrial Average above the all-time high it reached in January.
The S&P 500, the benchmark for many index funds, was also above the peak it reached last month.
A weaker dollar and a mix of mostly encouraging economic data helped put investors in a buying mood Thursday.
Technology stocks, banks and health care companies accounted for much of the rally. Utilities and other safe-play stocks lagged as investors shoveled money into riskier assets.
The Dow climbed 241 points, or 0.9 percent, to 26,648.
The S&P 500 rose 21 points, or 0.8 percent, to 2,929. The Nasdaq climbed 77 points, or 1 percent, to 8,027.
Bond prices rose. The yield on the 10-year Treasury fell to 3.07 percent.
Stocks are opening solidly higher on Wall Street, sending the Dow Jones industrials on track to beat the record high it closed at in January.
Solid gains in Boeing and Caterpillar helped send the Dow up in early trading Thursday.
The S&P 500, the benchmark for many index funds, was also on its way to another record high.
The biggest gains went to technology and health care companies and banks. Facebook added 1.6 percent.
The Dow climbed 225 points, or 0.9 percent, to 26,631.
The S&P 500 rose 14 points, or 0.5 percent, to 2,923. The Nasdaq composite climbed 45 points, or 0.6 percent, to 7,994.
Bond prices fell. The yield on the 10-year Treasury rose to 3.09 percent.