Traders work on the floor of the New York Stock Exchange.
NYSE
The S&P 500 and Nasdaq Composite reached new heights on Thursday as the market’s march higher carries on.
The broad market index hovered around the flatline, while the tech-heavy index dropped 0.2%. Both indexes having hit new all-time intraday highs earlier in the session. The Dow Jones Industrial Average climbed 50 points, or 0.1%.
Costco shares gained 2% after the big-box retailer delivered solid September sales data, with total net sales for the five weeks ended Oct. 5 posting a notable increase versus last year. Delta Air Lines jumped 6% on better-than-expected earnings.
The S&P 500 on Wednesday notched its eighth winning day of the last nine. The Nasdaq climbed more than 1% to end above the 23,000 mark for the first time ever.
The Dow, on the other hand, finished slightly below flat as blue-chip stocks lagged. But Nvidia helped the 30-stock index restrict losses, rising more than 2% after CEO Jensen Huang told CNBC that computing demand has “gone up substantially” this year.
“There are reasons to be optimistic ahead, but I wouldn’t be surprised to see some more volatility,” Kevin Mahn, investing chief at Hennion & Walsh Asset Management, said on CNBC’s “Closing Bell Overtime.” “When that volatility comes, money will come off the sidelines.”
There is no economic data releases of note on Thursday due to the ongoing government shutdown.
However, investors will monitor morning remarks from Federal Reserve Chair Jerome Powell at a community bank conference, as well as speeches from other Fed officials such as Michelle Bowman and Mary Daly throughout the day. These appearances come a day after the Fed released minutes for its most recent policy meeting showing divisions around what to do next with interest rates.