THE Dow and S&P 500 finished at record highs yesterday as data showed further strength in the US economy and Intel gave an upbeat forecast.
The Dow Jones industrial average rose 33.27 points, or 0.19 per cent, to 17,719, a record close. The S&P 500 gained 4.03 points, or 0.2 per cent, to 2,052.75, its 44th record high this year. The Nasdaq Composite added 26.16 points, or 0.56 per cent, to 4,701.87.
Intel shares jumped 4.7 per cent to $35.95, hitting their highest level since January 2002, after its 2015 revenue outlook was above Wall Street’s expectations and the company raised its dividend.
The California-based company has benefited from a stabilizing personal computer market.
Best Buy added seven per cent to $38.02, among the S&P’s largest percentage gainers, after betterthan- expected profit.
Among the top Nasdaq decliners was Keurig Green Mountain, down 7.4 per cent at $142.50, a day after it forecast fiscal first-quarter profit below analysts’ estimates.
Dollar Tree rose 5.2 per cent to close at $65.87 after the discount retailer beat third-quarter sales and profit expectations, posting its best sales figures since 2011.
Caesars Entertainment soared 5.4 per cent to $15.14 after Bloomberg News reported the casino operator plans to turn its largest unit into a real-estate investment trust.
After the bell, Gap shares fell 4.9 percent to $38.19 following its results. Gap shares ended the regular session up 1.5 per cent.