Dow Jones ends at record highs, tech weighs on NASDAQ, S&P 500

Economies.com
2018-09-21 21:28PM UTC

US stock indices closed the last session of the week mixed but mostly lower, with the tech sector leading the decline in NASDAQ and S&P 500, while Dow Jones finished at record highs on the back of the industrial sector. 

 

Earlier US data showed the flash manufacturing PMI up to 55.6 from 54.7 in August, beating estimates of 55.1, while the services PMI receded to 52.9 from 54.8, missing estimates of 54.9. 

 

Markets also look forward to the Federal Open Market Committee's September 25-26 policy meeting in Washington, with analysts betting on another 0.25% rate hike to just below 2.25%. 

 

The FOMC will also release three-year forecasts for inflation, growth, unemployment, and interest rates, and potentially hints about the upcoming rate hike, expected in December. 

 

Indices, Commodities 

 

Dow Jones rose 0.32%, or 86.52 points to 26,743.50, while Standard and Poor's 500 shed 0.04%, or 1.08 points to 2,929.67. NASDAQ Composite tumbled 0.51%, or 41.28 points to 9,986.96. 

 

Gold futures due in December fell 0.66% to $1,203.30 an ounce away from September 13 highs, while the dollar index rose 0.31% to 94.21. 

 

US crude futures due in November rose 0.55% to $70.71 a barrel, marking July 11 highs, while Brent November futures barely inched down 0.04% to $78.67 a barrel away from May 22 highs. 

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