US stocks rose on yesterday, with the Dow and S&P 500 hitting new all-time highs in a broad market rally as the recent upward momentum persisted.
The Nasdaq also hit its highest level since November 2000 although gains were limited by a steep decline in Apple .
Shares of the tech giant sold off in late afternoon trading after filings from hedge funds showed that the one-time Wall Street darling was dropped by more famous hedge fund managers in the first quarter.
The day’s gains were broad, with nine of the S&P 500’s 10 sectors ending higher. Among the top gainers were the consumer staples sector index, up one per cent, and the financial sector, also up one per cent. The only decliner was the energy sector index, down 0.4 percent.
The overall market showed further signs of strength despite the S&P 500 rising to a record for the fourth session in a row. The broad market index has recorded 15 new closing highs this year.
The Dow Jones industrial average rose 60.44 points, or 0.40 per cent, to a record 15,275.69 at the close.
The Standard & Poor’s 500 Index added 8.44 points, or 0.51 per cent, to finish at a record 1,658.78.
The Nasdaq Composite Index gained 9.01 points, or 0.26 per cent, to close at 3,471.62.
During the session, the Dow touched an all-time intraday high at 15,301.34, while the S&P 500 reached a record intraday peak at 1,661.49. Earlier, the Nasdaq had hit a fresh 52-week high at 3,475.48.
Tech shares also got a lift from Netflix, up four per cent at $243.40, and Yahoo, up 2.6 per cent at $27.34. In contrast, Computer Sciences was the S&P 500’s biggest loser, dropping 9.7 per cent to $44.71 after reporting results.
New York Report