The Dow Jones Industrial Average and S&P 500 index closed at record highs Friday as investors remain cautiously optimistic about economic growth and progress against the pandemic.
The Dow rose 297.03 points, or 0.9%, to close at a record 33,800.60, after hitting an intraday all-time high of 33,810.87. The S&P 500 index rose 31.63 points, or 0.8%, to end at a record 4,128.80, after setting an intraday record peak of 4,129.48. The Nasdaq Composite Index rose 70.88 points, or 0.5%, ending at 13,900.19.
Stocks linked to the recovering economy led the gains again amid the accelerating vaccine rollout.
On the data front, the U.S. producer-price index rose 1% in March, the U.S. Labor Department said Friday. The rate of wholesale inflation over the past 12 months climbed to 4.2% in March. That’s the highest level since September 2011.
Powered by Capital Market – Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.