Nasdaq Closes at Record High

Dow ends day up 59
By Newser Editors and Wire Services
Posted Aug 31, 2017 3:04 PM CDT

(Newser) – Stocks are closing solidly higher for the second day in a row after the government said spending by consumers strengthened, the AP reports. Health care and technology companies made some of the largest gains Wednesday. Drugmaker Biogen jumped 4.2% and Alphabet, Google's parent company, added 1.2%. The Commerce Department said consumer spending grew in July along with wages and salaries. Investors also traded on positive reports from Europe and China. A day ago, stocks climbed after the government raised its estimate of second-quarter economic growth. The Standard & Poor's 500 index advanced 14 points, or 0.6%, to 2,471. The Dow Jones industrial average added 59 points, or 0.3%, to 21,952. The Nasdaq composite jumped 60 points, or 0.9%, to a record high of 6,428. (Read more stock market stories.)

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