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Post by bot on Mar 30, 2017 19:17:38 GMT -5
Nasdaq logs 21st record close as stock market rises on strong economic data
The Nasdaq Composite on Thursday posted its 21st record of 2017, and the broader stock market rose following an upbeat reading of economic growth. U.S. benchmark oil rising above $50 a barrel also encouraged buying sentiment on Wall Street, helping to lift energy shares. The Nasdaq Composite Index , produced the most notable finish, closing up about 17 points, or 0.3%, at 5,914, registering a fresh all-time closing high, its first since March 1. The S&P 500 index ended up roughly 7 points, or 0.3%, at 2,368, with financials leading the session's gains. The exchange-traded Financial Select Sector SPDR ETF , which tracks the S&P 500's financial sector, rose 1.2% topped by a 2.9% advance in Capital One Financial Corp. . Meanwhile, the Dow Jones Industrial Average ended up nearly 70 points, or 0.3%, at 20,728. Shares of Exxon Mobil Corp. , up 1.9%, led the blue-chip index's gains. Thursday's advance was fueled in part by government data that showed the U.S. economy, as measured by gross domestic product, expanded at a 2.1% annualized pace in the fourth quarter, slightly faster than the previously reported 1.9% rate. Separately, jobless claims fell by 3,000 to 258,000 in the latest week, near their lowest level in decades.
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