The Nasdaq Composite on Thursday posted its 21st record of 2017, and the broader stock market rose following an upbeat reading of economic growth. U.S. benchmark oil rising above $50 a barrel also encouraged buying sentiment on Wall Street, helping to lift energy shares. The Nasdaq Composite Index , produced the most notable finish, closing up about 17 points, or 0.3%, at 5,914, registering a fresh all-time closing high, its first since March 1. The S&P 500 index ended up roughly 7 points, or 0.3%, at 2,368, with financials leading the session’s gains. The exchange-traded Financial Select Sector SPDR ETF , which tracks the S&P 500’s financial sector, rose 1.2% topped by a 2.9% advance in Capital One Financial Corp. . Meanwhile, the Dow Jones Industrial Average ended up nearly 70 points, or 0.3%, at 20,728. Shares of Exxon Mobil Corp. , up 1.9%, led the blue-chip index’s gains. Thursday’s advance was fueled in part by government data that showed the U.S. economy, as measured by gross domestic product, expanded at a 2.1% annualized pace in the fourth quarter, slightly faster than the previously reported 1.9% rate. Separately, jobless claims fell by 3,000 to 258,000 in the latest week, near their lowest level in decades.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News