Dow jumps to record as Yellen signals gradual rate hikes

Jay Anderson
July 15, 2017

US stocks closed higher on Friday, with several indexes posting all-time records, led by large gains in the tech sector. The Dow Jones Industrial Average was up 0.4%, a record high.

The Dow Jones industrial average closed about 125 points higher and hit a record intraday and closing highs.

The Nasdaq Composite (INDEXNASDAQ:.IXIC) closed up 38.03 points, or 0.61% to 6,312.47.

Retail sales also unexpectedly dropped for a second month in June, signaling consumers are providing only modest support for the USA economy and suggesting a weaker than hoped for rebound in GDP in the second quarter.

The Consumer Price Index for All Urban Consumers was unchanged in June on a seasonally adjusted basis, the labor department reported on Friday.

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In small-caps, the Russell 2000 Index closed at 1425.66 for a gain of 1.34 points or 0.09%. The index's previous intraday record was 2,453.82, which was set June 19. The S&P 500 closed at 2447.83 for a gain of 4.58 points or 0.19%.

Gains for big technology and health care companies drove the market higher.

The Nasdaq is up 929.35 points, or 17.3 percent.

The Nasdaq is up 159.39 points, or 2.6 percent. The VIX Volatility Index was lower for the day at 9.90 for a loss of -0.40 points or -3.88%.

The Dow is up 1,875.14 points, or 9.5 percent.

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