The stock indexes in the United States are struggling from tiny gains and losses but these small fluctuations proved to be good enough to boost the Standard & Poor’s 500 till its second record high in last two days. Even other prestigious indexes such as The Dow Jones industrial average has reported two day high. The tech-savvy NASDAQ also followed the trend with slightly lower closing. The highest achievers where from the utilities stock’s group.
Corporate earnings and recently released U.S. economic data gave mixed signals to the investors. The oil prices decreased by a small margin and remained to less than $60 a barrel for two weeks in a row. The success on the Wall Street failed to impress the traders as most of them were firm on holding off major moves. Chief strategist JJ Kinahan from TD Ameritrade informed that there is small amount of selling pressure in this kind of market scenario because many people want to ensure the quick profit nowadays. The Dow increased by 0.1 percent, a sharp increase of 20.32 points which pushed it to 18,272.56.
Last time in March this year, the Dow reported a record high which was more by just 16 points than current value. In we talk about S&P, the star of the growth story, it gained around 1.63 point, same growth rate as the Dow and closed at 2,122.73. The NASDAQ decreased by 2.50 point. U.S. manufacturing data showed some shocking results on Friday and as per the central bank’s data the industrial output of New York, the financial capital has decreased.