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US close: Markets continue record run as investors digest data

Fri 06 October 2017 00:07 | A A A

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FTSE 100 | FTSE 250 | Paris CAC 40 | Dow Jones | NASDAQ

7495.68 | Negative 4.73 (0.06%)

Prices delayed by at least 15 minutes

(ShareCast News) - US stocks notched fresh record highs again on Thursday as investors digested a series of data releases and speeches from Federal Reserve officials.

The Dow Jones Industrial Average finished up 0.5% at 22,775.39, the S&P 500 added 0.56% to 2,552.07 and the Nasdaq 100 was ahead 0.97% at 6,057.14.

Market participants were mulling over comments from Fed governor Jerome Powell, who refrained from saying anything about monetary policy when he spoke earlier at a Fed-sponsored Treasury Market Practices Group.

He said industry groups can help to "fill in the cracks" left by competing regulations enforced by US agencies.

"There is certainly a role for regulation, but regulation should always take into account the impact that it has on markets, a balance that must be constantly weighed. More regulation is not the best answer to every problem," he said.

Meanwhile, San Francisco Fed President John Williams said at conference of community banks and state bank supervisors that the long-term trend in annual US economic growth might be as low as 1.5%, meaning that future interest rates will be lower than historical norms.

On the data front, US initial jobless claims decreased by 12,000 from the previous week's unrevised level to 260,000.

Economists had been expecting a smaller drop to 265,000.

The four-week moving average was down 9,500 from the previous week's unrevised average to 268,250.

Figures from the Commerce Department showed that the US trade deficit narrowed more than expected in August, to $42.4bn from a revised $43.6bn the month before. Economists had expected a figure of $42.7bn.

Meanwhile, factory goods orders rose 1.2% according to the Commerce Department, compared with a 3.3% drop in July and expectations for a 1% increase.

In corporate news, SeaWorld Entertainment was in the red by 6.52%, giving back some of the previous day's gains following reports that Legoland owner Merlin Entertainments is looking to buy part of the water park operator.

Brewer Constellation Brands rallied 4.01% after its quarterly earnings beat on profit, while Microsoft was in the black after Canaccord Genuity upped the stock to 'buy'.

Biogen was also trading 3.75% higher as Morgan Stanley bumped it up to 'overweight'.

Dow Jones - Risers

Goldman Sachs Group Inc. (GS) $246.06 2.39%

Microsoft Corp. (MSFT) $75.97 1.71%

Apple Inc. (AAPL) $155.39 1.24%

Boeing Co. (BA) $258.89 1.22%

McDonald's Corp. (MCD) $158.80 1.01%

Visa Inc. (V) $106.24 0.88%

Chevron Corp. (CVX) $118.58 0.85%

JP Morgan Chase & Co. (JPM) $97.09 0.76%

Home Depot Inc. (HD) $166.12 0.50%

Intel Corp. (INTC) $39.53 0.48%

Dow Jones - Fallers

Unitedhealth Group Inc. (UNH) $197.90 -1.29%

Walt Disney Co. (DIS) $100.12 -0.44%

Procter & Gamble Co. (PG) $92.03 -0.42%

Caterpillar Inc. (CAT) $126.40 -0.27%

Verizon Communications Inc. (VZ) $49.77 -0.26%

3M Co. (MMM) $216.33 -0.07%

E.I. du Pont de Nemours and Co. (DD) $83.93 -0.00%

Merck & Co. Inc. (MRK) $64.60 0.00%

Coca-Cola Co. (KO) $45.54 0.04%

Pfizer Inc. (PFE) $36.00 0.11%

S&P 500 - Risers

Netflix Inc. (NFLX) $194.39 5.39%

Constellation Brands Inc. Class A (STZ) $209.25 4.01%

Biogen Inc (BIIB) $326.74 3.75%

L Brands Inc (LB) $42.79 3.46%

Dentsply International Inc. (XRAY) $58.98 3.09%

Paypal Holdings Inc (PYPL) $65.82 2.83%

Diamond Offshore Drilling Inc. (DO) $14.88 2.76%

BB&T Corp. (BBT) $47.62 2.70%

Red Hat Inc. (RHT) $115.53 2.47%

Urban Outfitters Inc. (URBN) $23.59 2.43%

S&P 500 - Fallers

Navient Corporation (NAVI) $12.60 -14.25%

Mallinckrodt Plc Ordinary Shares (MNK) $35.49 -4.98%

Celgene Corp. (CELG) $140.01 -4.44%

H&R Block Inc. (HRB) $24.68 -3.97%

Harley-Davidson Inc. (HOG) $46.86 -3.96%

Viacom Inc. Class B (VIAB) $27.30 -2.99%

Sempra Energy (SRE) $112.02 -2.22%

Snap On Inc. (SNA) $148.59 -1.88%

Endo International Plc (ENDP) $8.66 -1.81%

CBS Corp. (CBS) $58.90 -1.78%

Nasdaq 100 - Risers

Netflix Inc. (NFLX) $194.39 5.39%

Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $58.41 4.34%

Biogen Inc (BIIB) $326.74 3.75%

Dentsply International Inc. (XRAY) $58.98 3.09%

Liberty Global plc Series C (LBTYK) $31.90 2.94%

Paypal Holdings Inc (PYPL) $65.82 2.83%

Liberty Global plc Series A (LBTYA) $33.00 2.80%

Mercadolibre Inc. (MELI) $270.23 2.43%

Marriott International - Class A (MAR) $111.27 2.25%

Autodesk Inc. (ADSK) $116.54 2.18%

Nasdaq 100 - Fallers

Celgene Corp. (CELG) $140.01 -4.44%

Viacom Inc. Class B (VIAB) $27.30 -2.99%

J.B. Hunt Transport Services Inc. (JBHT) $106.87 -1.65%

Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $220.63 -1.29%

KLA-Tencor Corp. (KLAC) $101.67 -1.29%

Lam Research Corp. (LRCX) $182.82 -1.19%

Hasbro Inc (HAS) $96.58 -1.13%

Mattel Inc. (MAT) $15.56 -1.02%

Discovery Communications Inc. Class C (DISCK) $20.37 -0.97%

Amgen Inc. (AMGN) $186.85 -0.92%

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