Dow, S&P 500 at new records; Apple lifts Nasdaq

Trader Jason Harper, left, works on the floor of the New York Stock Exchange, Monday, Nov. 24, 2014. The Dow and S&P 500 inched to new records Monday ahead of a deluge of US economic data in advance of Thursday’s Thanksgiving holiday. AP PHOTO/RICHARD DREW

New York–The Dow and S&P 500 inched to new records Monday ahead of a deluge of US economic data in advance of Thursday’s Thanksgiving holiday.

At the closing bell, the Dow Jones Industrial Average stood at 17,817.06, up 7.00 points (0.04 percent), its third straight record close.

The S&P 500 gained 5.96 (0.29 percent) to 2,069.46, its second straight record, while the tech-rich Nasdaq Composite Index bolted 41.92 (0.89 percent) to 4,754.89 behind a nearly two percent rise in Apple.

The US economic calendar was quiet Monday, but sentiment was lifted by data showing a rise in German business confidence. The next two days will include third-quarter US economic growth, the Conference Board’s index of consumer confidence and several other key reports on the US.

Apple shares jumped 1.9 percent after Susquehanna Financial Group raised its price target for the tech giant, citing strong demand for the iPhone 6.