A day of modest gains on Wall Street resulted in more milestones for US stocks today as the Dow Jones industrial average closed above 23,000 points for the first time.
The Standard & Poor’s 500 index and Nasdaq composite also finished at record highs. Technology stocks and financial companies led the gainers as investors weighed the latest batch of company earnings.
Strong quarterly results drove IBM shares to their biggest one-day gain since 2009.
Those gains accounted for much of the 30-company Dow’s record high. “For us it’s just another indication that it is a strong market here, year-to-date,” said Paul Springmeyer, investment managing director for US Bank Private Wealth Management.
“To have the Dow up over 17% is a very, very strong year.”
All told, the Dow picked up 160.16 points, or 0.7%, to 23,157.60. The S&P 500 index rose 1.90 points, or 0.1%, to 2,561.26. The Nasdaq added 0.56 points, or 0.01%, to 6,624.22.