The Denver Post

Stocks set more records

Technology and health care firms power indexes to all-time highs in trading.

- By Marley Jay

NEW YORK» The market’s biggest winners this year, technology and health care, powered U.S. stock indexes to more all-time highs on Tuesday.

Huge technology companies like Apple and Facebook continued their ascent, while strong reports from companies including medical de- vice maker Medtronic and constructi­on and technical services company Jacobs Engineerin­g helped health care and industrial companies, respective­ly.

Basic materials companies, which have done better than the rest of the Standard & Poor’s 500 index, also rose. Telecommun­ications companies declined, while energy companies and banks didn’t do as well as the rest of the market.

Apple, Facebook, Alphabet, Microsoft and Amazon, the five most valuable companies on the stock market, all rose more than 1 percent, and they’ve all had a very strong year. JJ Kinahan, chief market strategist at TD Ameritrade, said that’s not about to stop.

“They’re seeing better earnings, better sales, better growth,” he said. “It’s difficult to argue with that.”

The S&P 500 index climbed 16.89 points, or 0.7 percent, to 2,599.03. The Dow Jones industrial average gained 160.50 points, or 0.7 percent, to 23,590.83. The Nasdaq composite added 71.77 points, or 1.1 percent, to 6,862.48.

The Russell 2000 index of smaller-company stocks rose for a fourth day and picked up 15.49 points, or 1 percent, to 1,518.89. All four indexes set records. The Russell had struggled in recent weeks, but on Tuesday it beat its record close from early October.

Big-name technology companies lead the way overall. Apple rose $3.16, or 1.9 percent, to $173.14 and Facebook added $3.12, or 1.7 percent, to $181.86. Health care companies climbed as well. Those two sectors are the best-performing parts of the market this year.

Homebuilde­rs climbed after the National Associatio­n of Realtors said sales grew in October. They’re down slightly from last year.

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