Main US indexes green; Nasdaq up ~0.8%
Tech leads S&P sector gainers; Healthcare down most
Dollar rises; crude up >1%; gold dips; crude down ~1%
US 10-Year Treasury yield edges down to ~4.45%
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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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EARLIER ON LIVE MARKETS:
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INTERNATIONAL STOCKS STILL LOOK ATTRACTIVE OVER U.S. EQUITIES CLICK HERE
SMOKE AND MIRRORS: RETAIL SALES, JOBLESS CLAIMS, IMPORT PRICES, ET AL CLICK HERE
S&P 500, NASDAQ ON TRACK FOR FRESH RECORD CLOSES CLICK HERE
WITH TECH ON A TEAR, NASDAQ LEAPS TO THE TOP OF THE HEAP CLICK HERE
GOLD NEEDS A NEW CATALYST CLICK HERE
DOLLAR REBOUND COULD STALL ON POWELL FUTURE CLICK HERE
INDUSTRIALS AND CHIPS DRIVE STOXX BOUNCE CLICK HERE
BEFORE THE BELL: POWELL ASIDE, EARNINGS RETAKE CENTRE STAGE CLICK HERE
MARKETS STOIC OVER POWELL'S SHIFTING FATE CLICK HERE
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