Economy

Dow, S&P 500 post modest gains, but Nasdaq finishes flat

Dow, S&P 500 post modest gains, but Nasdaq finishes flat”

USA stocks extended gains Thursday as investors assessed the country's newly-released framework on tax reform. Technology companies recovered some of the losses they took a day ago, but energy companies and banks slipped.

The Standard & Poor's 500 index rose 0.18 points to 2,496.84.

The S&P 500 advanced 0.1% to 2510.06, a new record close, while the Dow Jones Industrial Average rose 40.49 points, or 0.2%, to 22,381.20. Meanwhile the Dow Jones Transportation Average, a gauge of railroad, trucking companies, finished at an all-time high, along the the small-cap focused Russell 2000, for the second straight session.

Wall Street edged higher on Thursday, as the S&P 500 eked out a record on gains in McDonald's and healthcare names, while investors continued to hope President Donald Trump will be able to make progress on tax reform.

AbbVie was the biggest boost to the S&P, rising more than 6 percent, after announcing a global resolution of intellectual property-related litigation with Amgen.

Rite Aid slumped more than 11 percent after reporting lower-than-expected revenue mainly due to a drop in reimbursement rates and the number of prescriptions it filled.

The Dow is up 2,521.72 points, or 12.8 percent.

The Russell 200 is up 99.73 points, or 7.3 percent.



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