Dow Back Over 17,000, S&P 500 Hits Record on Economic Optimism

We apologize, this video has expired.

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.
/ Source:

Stocks climbed on Thursday, with the S&P 500 hitting a record high and the Dow moving back over the 17,000 milestone, as investors anticipated a moderate tone from Federal Reserve chief Janet Yellen when she talks about the labor market on Friday. The Dow Jones Industrial Average closed unofficially 60 points higher and the S&P 500 rose 5 points to eclipse its intraday record of 1991.39. set on July 24. The Nasdaq added 5 points. On Wednesday, stocks mostly advanced after minutes from the Fed's last meeting showed some officials want a "relatively prompt" rate hike based on the economy's progress."Nothing is really trend changing; we're seeing positive economic data, as we have seen," Dave Rhoda, regional chief investment officer for Wells Fargo Private Bank, said of Thursday's economic reports, which cast better-than-expected lights on housing, jobs and factory activity. Investors were looking for a more moderate posture from Yellen when she addressed a financial gathering in Jackson Hole, Wyoming on Friday.

We apologize, this video has expired.


- Kate Gibson,