The Nasdaq composite and S&P 500 climbed to all-time highs Friday as the market capped another month of gains.
[ibd-display-video id=2324642 width=50 float=left autostart=true]The Nasdaq added 0.7% to nearly 6500, making September the third straight month of gains. The S&P 500 climbed 0.4% and rose for the sixth month in a row. The index hardly felt Monday's tech-sector slide and rose 0.6% for the week.
The Dow Jones industrial average also made it six months in a row of gains, rising 0.1% on the day. Small caps participated too, with the Russell 2000 climbing nearly 0.2% and making a record high.
Volume fell from Thursday's levels, according to preliminary figures. Winners led losers by 3-to-2 on the NYSE and by 9-to-7 on the Nasdaq.
Homebuilders shined after an earnings report sparked a few breakouts.
KB Home ( KBH ) surged 8.5% to a new high after the company beat sales and profit expectations late Thursday. The Los Angeles-based builder earned 51 cents a share on revenue of $1.14 billion for the August-ended quarter. KB Home cleared the 24.47 buy point of a lopsided base as volume swelled five times more than normal.
It was KB Home's CEO Jeffrey Mezger's that got in hot water with next-door neighbor Kathy Griffin after audio of Mezger making a slur-filled tirade against the comedian recently became public. The board of KB Home slashed his bonus by 25%.
Meritage Homes ( MTH ) cleared the 44.55 buy point of a cup-without-handle base as volume rose more than 60% above average. Toll Brothers ( TOL ) broke out of a flat base, leaping past the 41.17 buy point. But volume was merely average.
LGI Homes ( LGIH ) broke out Thursday and remained in buy range from the 46.99 entry.
Several financials also broke out past buy points, but they lacked volume.
Glacier Bancorp ( GBCI ) scooted out of a cup base with a 37.84 buy point. First Republic Bank (FRC) edged above a 104.27 buy point. KKR & Co. (KKR) closed above a 20.12 alternative buy point.
Financial software firm SS&C Technologies (SSNC) moved above the 40.31 buy point of a flat base in heavy trading.