S&P 500 and Nasdaq set fresh intra-day records

S&P 500 and Nasdaq set fresh intra-day records

S&P 500 and Nasdaq set fresh intra-day records

With the upward move on the day, the tech-heavy Nasdaq and the S&P 500 once again climbed to new record closing highs.

Utilities, phone companies and other high-dividend paying stocks were among the biggest decliners. Technology stocks led the gainers. The S&P 500 had lost 3.48 points, or 0.14 percent, to 2,398.84 easing from an all-time high of 2,405.77.

The Dow Jones Industrial Average was up 85.33 points, or 0.41 percent, to 20,981.94.

The S&P 500 index showed 34 new 52-week highs and six new lows, while the Nasdaq recorded 108 new highs and 26 new lows. Transocean rose 46 cents, or 4.2 percent, to $11.08, and Hess gained $1.56, or 3.2 percent, to $50.93.

The S&P 500 is up 9.77 points, or 0.4 percent. Yesterday, the index rose 0.5% to a new record close.

At the opening bell, American benchmark West Texas Intermediate went up 3.1 percent to reach $49.40 a barrel; worldwide benchmark Brent crude was trading at $52.35 per barrel - a 2.9 percent gain.

The energy sector was the biggest percentage decliner after rising sharply in Monday's session.

The Dow is up 1,217.15 points, or 6.2 percent.

TRACKING: Strong to Severe Storms Possible This Evening
Storms will likely merge into a line by Tuesday night as they charge eastward through central Kansas and central Oklahoma. Monday night saw storms moving up from northern Nebraska, with small hail and heavy rain reported in Bon Homme County.

Akebia Therapeutics AKBA.O was up almost 17 percent at $15.05 after the drug developer entered into an agreement with Vifor Pharma Group, which also made a $50 million equity investment in the company.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.34 percent. The No. 1 USA home improvement chain reported a higher-than-expected quarterly profit, sending its shares up 2.1 per cent US$160.68.

UNFASHIONABLE: The TJX Cos. fell 2.7 percent after the apparel and home fashions retailer's quarterly results fell short of Wall Street's forecasts. ICE Brent futures rallied $1.13, or 2.2%, to $51.97 a barrel.

Oil prices were little changed as traders awaited weekly USA inventory data and after Kuwait joined top producers Saudi Arabia and Russian Federation in support of prolonging supply cuts through March 2018 to reduce a global crude glut.

Transocean, a rig operator, climbed 3.8 percent Monday. On the Nasdaq, 1,939 issues rose and 743 fell.

MARKETS OVERSEAS: In Europe, Germany's DAX was flat, while France's CAC-40 was down 0.2 percent.

Shares of Alphabet Inc. rose 0.4% after Waymo LLC, the driverless-car division of the Google parent, and ride-hailing startup Lyft Inc. said on Sunday they would work together to develop autonomous vehicle technology.

Energy prices declined on Tuesday, giving back some of the gains from a day earlier on news that a group of oil-producing countries had cut production in hopes of supporting the price of oil. Copper gained 1 cent to $2.55 per pound.

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