Wall Street drifts higher after upbeat US business surveys

REUTERS: Wall Street's main indexes nudged higher on Friday with the tech-heavy Nasdaq notching another record high, as data highlighted the pockets of strength in the U.S. economy.

The unexpectedly sharp increases in Markit's indexes continue a pattern of choppy U.S. economic data this week - including weekly jobless claims - that paint a picture of a fitful recovery from the COVID-19 recession. "The uncertainty and choppiness are driving people back to some of the more traditional trades that have stayed immune through the course of the pandemic," said Mike Stritch, chief investment officer at BMO Wealth Management in Chicago.On Tuesday, the S&P 500 clinched a record high, recouping the last of its losses caused by the coronavirus-driven slump and joining the Nasdaq in notching new highs.

Technology , consumer discretionary and industrials were the only major S&P sectors in positive territory.Deere & Co rose 5per cent after the world's largest farm equipment maker revised up its full-year earnings forecast.

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