Dow Jones hits record highs, NASDAQ ends down over 1%

Economies.com
2017-11-29 21:20PM UTC

US stock indices closed the third session of the week mixed, with Dow Jones hitting fresh record highs on the back of the financial sector, while the tech sector dragged both S&P 500 and NASDAQ lower, with the later marking the worst performance in three months. 

 

Earlier US data showed the GDP grew 3.3% in the third quarter of 2017 according to the second growth reading in line with expectations, and above the first reading of 3.0%, while the economy grew 3.1% in the second quarter, as GDP prices slowed down to 2.1% from 2.2%

 

Federal Reserve Bank of New York President William Dudley participated in a panel discussion about current economic issues at Rutgers University, in New Jersey, while other US data showed pending home sales rose 3.5% in October past expectations of a 1.1% rise, and compared to a 0.4% dip in September.

 

Dow Jones ended up 0.44%, or 103.97 points at 23,940.68, while Standard and Poor's 500 shed 0.04%, or 0.97 points to 2,626.07. NASDAQ Composite tumbled 1.27%, or 88.02 points to 6,824.34. 

 

Gold futures due on February 15 shed 0.86% to $1,288.00 an ounce from the opening of $1,299.20, while the dollar index dipped 0.04% to 93.24 from the opening of 93.27. 

 

Otherwise, US West Texas Intermediate slid 1.05% to $57.38 a barrel from the opening of $57.99, while Brent futures due on January 15 fell 0.46% to $63.32 a barrel from the opening of $63.61. 

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