THE DOW industrials eked out a slim gain yesterday to end at another record high, after the Nasdaq topped 4,000 for the first time in 13 years and then slipped to close below that level.
Wal-Mart Stores shares rose 0.8 per cent to close at $80.43, off an all-time intraday high of $80.57 after the world’s largest retailer said it has chosen its next chief executive. The stock was among the Dow’s best performers.
Energy stocks slipped following a deal to reduce sanctions on oil producer Iran. The S&P energy sector index fell 0.8 per cent. Social media shares dropped in volatile trading.
Volume is expected to remain low this week, ahead of the US Thanksgiving holiday on Thursday.
Notable social media stocks fell, with Facebook breaking through a technical support level at $45.80. Facebook shares slid 3.1 per cent to close at $44.82. Yelp shares fell 6.7 percent to $58.20. Twitter shares lost 4.7 per cent to end at $39.06.
The Dow Jones industrial average rose 7.77 points or 0.05 per cent, to end at 16,072.54, another nominal record closing high. Earlier, it hit another all-time intraday high at 16,109.63. But the S&P 500 dipped 2.28 points or 0.13 per cent, to finish at 1,802.48. The Nasdaq Composite Index added 2.924 points or 0.07 per cent, to close at 3,994.573. Earlier, the Nasdaq touched an intraday high at 4,007.093 – its first move above 4,000 in 13 years.
Healthcare and financial stocks were the days winners, with the S&P healthcare sector index rising 0.4 per cent and the S&P financial sector index adding 0.1 per cent.