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Dow Closes Above 27K for First Time

S&P 500 also hits closing high
By Newser Editors and Wire Services
Posted Jul 11, 2019 3:00 PM CDT
Dow Closes Above 27K for First Time
In this July 5, 2019, file photo trader Benjamin Tuchman works at the New York Stock Exchange in New York.   (AP Photo/Mark Lennihan, File)

(Newser) – The Dow Jones Industrial Average climbed above 27,000 for the first time after a turbulent day on Wall Street, the AP reports. The S&P 500 also hit a closing high milestone of its own Thursday, a day after its first move above 3,000. Steep losses in drugmakers and real estate companies were offset by gains for banks and technology companies. Nvidia climbed 3.9% and Goldman Sachs rose 2.6%. Pharmaceutical makers dropped after the White House scrapped a plan to overhaul a system of rebates those companies pay to insurers and distributors. Bond yields spiked following weak demand at an auction for 30-year Treasurys. The S&P 500 rose 6 points, or 0.2%, to 2,999. The Dow rose 227 points, or 0.8%, to 27,088. The Nasdaq fell 6 points, or 0.1%, to 8,196. (Read more stock market stories.)

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