AP – Another wobbly day of trading on Wall Street gave way on Friday to small gains and new highs for the S&P 500 and Dow Jones Industrial Average.
The two indexes wavered for much of the day before eking out their fourth straight gains. The benchmark S&P 500 rose 0.2 per cent and notched its second-straight weekly increase. The Dow and the Nasdaq edged up less than 0.1 per cent.
Stocks in the S&P 500 were nearly evenly split between winners and losers. Gains in technology, health care and household goods companies outweighed losses by banks, energy stocks and other sectors. Small-company stocks fell more than the broader market.
An economic report showing a big drop in consumer confidence last month due to the spreading Delta variant of the coronavirus didn’t keep the market from managing more records.
“The reality is the market is holding up pretty well,” said senior portfolio manager at United States (US) Bank Wealth Management Rob Haworth.
The S&P 500 rose 7.17 points to 4,468. The Dow added 15.53 points to 35,515.38, and the Nasdaq picked up 6.64 points to 14,822.90.
Technology companies made some of the broadest gains. Chipmaker Advanced Micro Devices rose 3.8 per cent, while eBay climbed 7.4 per cent for the biggest gain in the S&P 500.
Healthcare companies also gained ground. Pfizer rose 2.6 per cent and Regeneron Pharmaceuticals gained 2.8 per cent. Moderna slipped 0.4 per cent after US regulators authorised a booster shot of their vaccines for people with weakened immune systems.
