Technology stocks drove the equity market to a record in a volatile session ahead of Friday’s options expiration.
The S&P 500 rose 0.3 per cent as of 4 p.m. New York time The Nasdaq 100 rose 1.1 per cent The Dow Jones Industrial Average fell 0.2 per cent the MSCI World index was little changed. The world’s largest cryptocurrency hasn’t slumped that long since the five days that ended May 16. Unlike traditional assets, crypto assets trade on the weekend, so the streak includes Saturday and Sunday.
Companies that rely on consumer spending on goods and services also fared well following solid earnings reports from retailers. Macy’s surged 19.8 per cent after the department store chain handily beat Wall Street’s third-quarter profit forecasts. Kohl’s jumped 7 per cent after also reporting encouraging earnings.