The S&P 500 closed at a record high Thursday, fuelled by gains in the healthcare and energy sector, while the blue chip index was kept afloat by a rally in shares of McDonald's ( MCD ). The Nasdaq ended flat after spending the day mired in negative territory.
The Dow perked up soon after the open even as Wall Street continued to debate the details of President Donald Trump's tax plan and a slight upward revision to second quarter growth. Gross Domestic Product was revised slightly higher in the second quarter to an annualized rate of 3.1%, but initial jobless claims rose 12,000 in the week ended Sept 23 as individuals affected by Hurricanes Harvey and Irma filed for unemployment.
In related markets, the dollar's recent advance against the majors stalled with a lower close against the yen and euro, gold pulled off a slightly positive close with silver and copper following close behind, while a well-received 7-year Treasury note auction failed to resuscitate the bond market.
For Friday, economic data includes personal income and consumption spending at 8:30am ET, the Chicago purchasing managers index at 9:45am ET followed by the Univ of MI consumer sentiment index at 10am ET. Philadelphia Fed president Patrick Harker will give a speech at Fintech at 11:00am ET.
Here's where the markets stood at the close:
Dow Jones Industrial Index was up 40.49 points (+0.18%)
S&P 500 was up 3.02 points (+0.12%)
Nasdaq Composite Index was up 0.19 points (0.00%)
FTSE 100 was up 0.13%
Nikkei 225 was up 0.47%
Hang Seng Index was down 0.80%
Shanghai China Composite Index was down 0.17%
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