Stock Market News For Aug 27, 2018
Markets closed sharply higher on Friday with the S&P 500 and Nasdaq closing at highs after Fed Chairman Jerome Powell affirmed central bank’s current pace of rate hikes highlighting the strength in the country’s economy. The S&P 500 recorded its longest bull run, while the Nasdaq registered its first all-time high since Jul 25.
The Dow Jones Industrial Average (DJI) advanced 0.5%, to close at 25,790.35. The S&P 500 gained 0.6% to close at 2,874.69. The Nasdaq Composite Index closed at 7,945.98, increasing 0.9%. A total of 5.43 billion shares were traded on Friday, lower than the last 20-session average of 6.28 billion shares. Advancers outnumbered decliners on the NYSE by a 2.50-to-1 ratio. On Nasdaq, a 1.76-to-1 ratio favored advancing issues.
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