Nasdaq closes at third-straight record high

Stocks booked modest gains Tuesday, but the advance was sufficient for the S&P 500 and the Nasdaq to record their third straight all-time closing high, amid lingering enthusiasm about the U.S.‘s progress toward forging a bilateral trade pact with Mexico. However, investors found few reasons to push stocks substantially higher in late-August trade–a seasonal subdued period of activity on Wall Street because traders head out on vacation ahead of the Labor Day holiday. The Dow Jones Industrial Average gained about 14 points, or less than 0.1%, at 26,064, climbing closer toward its record close at 26,616.71 hit on Jan. 26. The S&P 500 index edged less than a point higher at 2,897, and the Nasdaq Composite Index advanced 12 points, or 0.2%, at 8,030. Although the moves were slight, it was enough to push the S&P 500 and Nasdaq to their third all-time closing peak in succession. In corporate news, shares of Google-parent Alphabet fell by about 1% as President Donald Trump, via Twitter Inc. accused the technology behemoths of suppressing good news about his presidency in the company‘s web search algorithms.

Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails.

Leave a Comment