Dow ends at another record high as chip stocks, retail data support

Dow ends at another record high as chip stocks, retail data support

By David French

Thu October 17, 2024 4:00 PM

Healthier than expected retail sales data confirming a continuing robust economy combined with an unexpected drop in unemployment benefits boosted the Dow to another record close, its 4^th in the last 5 sessions, and an optimistic forecast from the world largest chipmaker (Taiwan Semiconductor) buoyed the chip index too, though overall the tech indexes were choppy and closed flat. But solid Q3 data gave the Dow another nice 3-digit gain. More banks also turned in solid Q3 reports shooting the bank index to a 5^th straight advance. Volume came in at 11.3 billion, again shy of the 12 billion average. 

DJ: 43,077.70  +337.28      NAS: 18,367.08  +51.48      S&P: 5,842.47  +27.21        10/16

DJ: 43,239.05  +161.35      NAS: 18,373.61  +6.53        S&P: 5,841.47  -1.00          10/17

Thu 10-17-24 4:00 pm Dow ends at another record high as chip stocks, retail data support | Reuters