Another rally to fresh records
U.S. equities rallied to records for a third week of gains as a gauge of market sentiment climbed and investors assessed promises from President Trump for tax cuts and fiscal spending.
Economic data also continued to paint a largely positive picture of the U.S. economy, after Thursday’s unexpectedly low number of Americans filing for jobless claims and as corporations added to one of the best sets of earnings since the financial crisis.
The S&P 500 added 0.8 percent this week to a record 2,316.10. The Dow Jones industrial average jumped 1 percent to 20,269.37. The Nasdaq Composite and Russell 2000 also hit new highs.
With more than half of S&P 500 companies having reported earnings this season, about three-quarters beat profit estimates and roughly half beat sales forecasts.
Energy, industrial and consumer discretionary stocks are the only groups with smaller profits than a year ago.
Stocks also got help from the commodity markets in the latter half of the week, as raw-materials producers rallied.
The U.S. Treasury will sell $34 billion in three-month bills and $28 billion in sixmonth bills Monday. They yielded 0.53 percent and 0.65 percent, respectively, in whenissued trading. It will also sell four-week bills Tuesday and $7 billion 30-year TIPS on Thursday. Editor’s note: Our weekly composite stock listing includes companies based in Washington or with a strong presence here. The rest of the table shows firms as ranked by market capitalization. And we’ve added year-to-date data because readers told us it would be useful.