US Stocks Rise as Tech Leads; Dow Hits New Record

Reuters     
       A passerby in Tokyo walks under a TV screen reporting news about North Korea's latest missile launch

Investors drove stocks to a positive finish on Friday, with the Dow Jones industrials and S&P 500 seizing new high ground, and the Nasdaq Composite closing just a fraction below record territory.

For the week, the Dow Jones gained 2.16%, the S&P 500 gained 1.56% and the Nasdaq gained 1.37%.

The consumer discretionary index.SPLRCD fell 0.54 percent, pulled down by a 0.74-percent decline in Amazon.com AMZN.O and a 0.93-percent dip in Walt Disney DIS.N. That took the year-on-year increase to 1.9%, compared with a 1.7% rise in July.

USA industrial output fell 0.9% in August, its first drop in seven months. A value of 50-75 would signify a very strong trend, and a value of 75-100 would point to an extremely strong trend.

Business inventories increased 0.2% for the month. The exchange traded fund has net assets and 0.62% volatility this month.

XAutoplay: On | OffThe Nasdaq and the Dow Jones industrial average each rose 0.3%. Economists had expected production to inch up by 0.1 percent.

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Running back John Kelly went off for 128 yards and four touchdowns, while receiver Marquez Callaway caught two of the TD passes. The last time they met, Tennessee ended an 11-game losing streak against the Gators with a 38-28 victory at Neyland Stadium.

Additionally, a report from the University of MI showed concerns about the impact of Hurricanes Harvey and Irma have weighed on consumer sentiment in September.

The major market averages wobbled at the open after August inflation data raised the odds for the Federal Reserve to raise rates once more this year. Gamble Jones Investment Counsel now owns 7,546 shares of the company's stock worth $1,609,000 after purchasing an additional 462 shares during the last quarter.

Telecom stocks also saw considerable strength, resulting in a 1.3 percent advance by the NYSE Arca Telecom Index.

The Dow Jones industrial average and Standard & Poor's 500 index closed at record highs.

Railroad and trucking stocks also moved notably higher over the course of the session, while some weakness was visible among software stocks.

Economic data was nearly uniformly weak on Friday, mainly as a result of hurricane Harvey's impact, save for the so-called Empire State manufacturing index for September which slipped by just 0.8 points to 24.4, denoting confidence in the sector's outlook, according to analysts. NRG Energy Inc., Nvidia Corp. and Boeing Co. are biggest winners, with shares surging 30 percent or more.

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