Dow Closes Week With a Milestone

It crosses 28,000 for the first time
By Newser Editors and Wire Services
Posted Nov 15, 2019 3:12 PM CST
Dow Crosses 28,000 for First Time
Specialist Meric Greenbaum, left, and trader Fred DeMarco work on the floor of the New York Stock Exchange, Friday, Nov. 15, 2019.   (AP Photo/Richard Drew)

Stocks moved broadly higher on Wall Street Friday as major indexes closed at record highs. The Dow, for example, crossed 28,000 for the first time, closing at 28,004 after a gain of 222 points. The S&P 500 gained 23 to close at 3,120, and the Nasdaq gained 61 to close at 8,540. Health care and technology stocks powered much of the rally, per the AP. The gains capped a week of slight, if milestone-setting moves in the market as investors mostly shrugged off published reports suggesting that trade talks between the US and China have hit a snag.

US officials gave a rosier update Friday, saying they were making progress in the latest push for a trade agreement with China. “Over the past week the market absorbed a number of challenging trade headlines, and it didn’t go down,” said Willie Delwiche, investment strategist at Baird. “It might just be the case that with positive momentum, after not having had a chance to pull the market down, the bulls stepped in again and said, 'Let’s keep this thing going.'"

(Read more stock market stories.)

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