The S&P 500 and Nasdaq Composite index posted record finishes on Wednesday, led in part by gains for tech stocks. The Dow Jones Industrial Average was unable to join the rally, weighed down by losses for Boeing Co. and Caterpillar Inc. after disappointing second-quarter earnings.
The S&P 500 rose around 14 points, or 0.5%, to end near 3,020, according to preliminary figures, while the Nasdaq advanced around 70 points to close near 8,322, a gain of 0.8%. Chip stocks helped lead the way higher, with the PHLX Semiconductor Index jumping 3.1% to close at the latest in a string of record highs.
The Dow fell around 79 points, or 0.3%, to close near 27,270. Caterpillar Inc. shares led Dow decliners with a 4.5% drop after reporting second-quarter results, while shares of Boeing Co. fell 3.1% after reporting a big second-quarter loss.
Source : MarketWatch