Stock Market News For Oct 3, 2017
Zacks Investment Research | Oct 02, 2017 10:06PM ET
Benchmarks closed near record highs on Monday following a rally in the financial and healthcare stocks. The Dow, S&P 500 and Russell 2000 index, all hit record highs. Moreover, President Trump’s new tax code has boosted broad based gains for the markets. Such enthusiasm in investors over-shadowed the mass shooting incident at Las Vegas on Sunday evening — described by Trump as an act of “pure evil.” Meanwhile, Fed Presidents Neel Kashkari and Rob Kaplan cautioned the Fed to wait until inflation rate touches the 2% level, before hiking interest rates.
The Dow Jones Industrial Average (DJIA) closed at 22,557.60, gaining 0.7%. The S&P 500 Index (INX) increased 0.4% to close at 2,529.12. Meanwhile, the Nasdaq Composite Index (IXIC) closed at 6,516.72, increasing 0.3%. Advancing issues outnumbered decliners on the NYSE by 1.71-to-1 ratio. On the Nasdaq, advancers outnumbered decliners by 2.16-to-1 ratio. The CBOE VIX decreased 2% to close at 9.32.
Benchmarks Close at a Record
The Dow amassed 152.51 points to notch up a fresh record close on Monday. Such gains were buoyed by a surge in shares 3M Co. (NYSE:MMM) and Goldman Sachs (NYSE:GS) , which gained 1.4% and 1.5%, respectively. Zacks Investment Research
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