Dow in­dus­tri­als hit record high

Texarkana Gazette - - FRONT PAGE - —THE AS­SO­CI­ATED PRESS

A tur­bu­lent day on Wall Street ended in the record books Thurs­day as the Dow Jones In­dus­trial Av­er­age climbed above 27,000 for the first time and the S&P 500 in­dex hit another all­time high.

The mile­stones came on a day when the S&P 500 briefly moved above 3,000 for the sec­ond straight day be­fore an early rally lost some of its mo­men­tum.

The mar­ket lost some ground after an auc­tion of long-term U.S. gov­ern­ment bonds failed to drum up strong de­mand. That pulled bond prices lower, send­ing yields sharply higher.

Banks and tech­nol­ogy stocks led the broad gains, off­set­ting losses in real es­tate and com­mu­ni­ca­tions ser­vices com­pa­nies.

The gains ex­tended a win­ning streak for stocks into its third day. Stocks have been trend­ing higher for much of the week as in­vestors have grown con­fi­dent the Fed­eral Re­serve may cut in­ter­est rates as soon as the month’s end.

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