Stocks Close at Record Highs on Growth Optimism: Markets Wrap
- Chips shares send S&P 500, Nasdaq Composite to all-time highs
- European bonds gain as euro-area manufacturing dips before ECB
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U.S. stocks pushed higher for a third day as investors looked past weak economic data and mixed corporate results, including an unexpected quarterly loss for Boeing. Treasuries advanced along with bonds in Europe.
The Nasdaq Composite Index climbed to a record after Texas Instruments posted strong earnings, while UPS’s bullish profit guidance helped push the S&P 500 to an all-time closing high. Along with Boeing, Caterpillar weighed on the Dow Jones Industrial Average. After the close of regular trading, Facebook climbed on higher-than-forecast revenue, while Ford slumped as earnings missed estimates.