S&P 500 and Dow clinch new records as stocks end day higher

U.S. stocks edged higher on Thursday, pushing both the Dow Jones Industrial Average and S&P 500 to fresh records during an otherwise tame session.

The Dow rose 14.88 points to 35,499.85, a record close for the blue-chip index. The S&P 500 climbed 0.3% to 4,460.83, also a record. The Nasdaq Composite outperformed with a gain of 0.3% to end the day at 14,816.26.

Among the S&P sectors, health care and tech outperformed with gains of about 0.8% and 0.6%, respectively, while energy, industrials and materials stocks lagged. Salesforce and Apple were the best-performing stocks in the Dow, while Home Depot and Visa slipped.

“Despite the relatively placid surface, there are some more gyrations under the surface of the S&P 500 today,” wrote Goldman Sachs analyst Chris Hussey.

“Industrials, Materials, and Energy all led the S&P 500 through the last few sessions, supported in parted by the hopes for increased infrastructure spending, but are now the worst performers today,” he added. “Conversely, we’re seeing a rotation back into long duration stocks, including Tech, Healthcare, and Comm Services.”

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