Tech, financials help drive S&P, Nasdaq to record

Lynne Hanson
September 30, 2017

USA stock index futures were set to open little changed Friday, the last trading day of a solid third quarter of gains for stocks.

Trump's tax plan, which called for tax cuts for most Americans, also drew criticism for favoring business and the rich and potentially adding trillions of dollars to the deficit.

At 12:32 p.m. ET (1632 GMT), the Dow Jones industrial average was up 48.73 points, or 0.22 percent, at 22,389.44, the S&P 500 was up 1.6 points, or 0.06 percent, at 2,508.64 and the Nasdaq Composite was down 7.62 points, or 0.12 percent, at 6,445.65. The reform plans, which promise lower tax rates for corporations and individuals, could be watered down or fail to pass at all; the administration and the Republicans have struggled to pass major legislation this year.

The PCE price index, the Federal Reserve's preferred measure of inflation, increased 0.2 percent.

For Q3, the Dow climbed 4.8% and the S&P advanced 4% in their eighth straight quarterly gains, while the Nasdaq rallied 5.8% in its fifth straight quarterly rise. Nasdaq 100 futures pointed to an opening gain of about 9 points. He did that again on Friday, cheering the "RECORD HIGH" for the S&P 500.

SNL Boosts Cast To Replace Moynihan, Bayer and Zamata
However, the good news is that the Peacock Network perennial gained Heidi Gardner , Luke Null and Chris Redd for the fresh season. The show is coming off one of its most watched seasons ever which earned it nine Emmy awards, more than any other show.

Another report showed the Chicago purchasing management index, which gauges factory activity, came in better than expected for September.

Treasury yields traded little changed after climbing this week. The sector was up 0.34 percent.

Separately, a closely-watched measure of inflation fell to its lowest pace in August for almost two years.

Markets in USA closed higher on Thursday's trade.

Other reports by TheDailyFarc

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