Technology, energy stocks drive S&P 500 to record high | Malay Mail

SEPT 2 — The S&P 500 hit a record high today, boosted by gains in heavyweight technology and energy companies, as well as on hopes that the Federal Reserve will maintain an accommodative policy amid signs that economic recovery was slowing.

On the data front, the number of Americans filing new claims for jobless benefits fell last week, although the focus will be on the Labor Department’s monthly jobs report on Friday, which could set the stage for the Fed’s policy meeting later this month. The S&P 500 and Nasdaq have consistently hit record highs over the past few weeks as a solid corporate earnings season and hopes of continued central bank support underpinned confidence as data showed the post-pandemic US economic growth was beginning to slow.

At 10:24 a.m. ET, the Dow Jones Industrial Average was up 116.52 points, or 0.33 per cent, at 35,429.05, the S&P 500 was up 14.66 points, or 0.32 per cent, at 4,538.75, and the Nasdaq Composite was up 30.13 points, or 0.20 per cent, at 15,339.52.

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