NEW YORK (Pakistan Point News / Sputnik - 17th April, 2021) Wall Street's broadest stocks indicator, the Dow Jones Industrial Average, extended record highs above 34,000 points on Friday as it closed up for a fourth straight week on the strength of US economic data suggesting a faster-than-expected rebound from the coronavirus pandemic.
The Dow, Wall Street's broadest stock indicator comprising mostly industrial stocks, closed up 41 points, or 1.2 percent, at 34,200, after hitting an all-time high at 34,257. For the year, it is up 11.7 percent.
The S&P 500 index, which groups the top 500 stocks on the New York Stock Exchange, settled up 46 points, or 1.4 percent, at 4,169, after a record high at 4,185. Like the Dow, the S&P also rose for a fourth week in a row, gaining 11.4 percent on the year.
The technology-laden Nasdaq Composite Index finished up 62 points, or 1.1 percent, at 14,052. Nasdaq, which groups high-flying tech stocks such as Facebook, Apple, Amazon, Netflix and Google, closed for a third straight week, rising 9 percent on the year.
Stocks rallied after a rash of US economic data this week exceeded forecasts, fueling hopes for faster-than-expected economic recovery.
