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A RECORD FOR INDUSTRIALS AS SECTOR EXTENDS STRONG RUN

The industrials sector .SPLRCI hit a record high on Thursday, extending its strong run this year as the S&P 500's .SPX top-performing sector, as it received some help from companies reporting quarterly results or giving upbeat comments, including Snap-On and United Airlines.

The industrial sector's high comes as the Dow Jones industrial average .DJI also appears to be getting close to its record levels.

Shares of the maker of tools, Snap-On SNA.N, which reported quarterly results earlier in the day including stronger-than-expected revenue, are up 6.3% and are leading percentage gainers in the sector.

Also helping industrials on Thursday, shares of United Airlines UAL.O are up 1.8%. Executives of the airline, which reported quarterly results late on Wednesday, said the company has seen strong bookings in the past three weeks, with the carrier gaining pricing power for the first time since February.

The industrials sector, up 0.5%, on Thursday and the day's second-best performing S&P 500 group, is now up about 15% for the year so far, while the S&P 500 .SPX is up about 7% over this period.

Defense spending has helped the sector this year, as well as overall economic growth.

Earnings season is still in its early stages, and reports from bigger industrial companies are still to come. As such, investors may be keen to hear from 3M MMM.N, which is due to report before the opening bell on Friday.

(Caroline Valetkevitch)

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