Dow Jones Kicks Off Third Quarter With Record High, Wall Street Reaching All-Time Highs

By  //  July 3, 2017

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(FOX BUSINESS) – Wall Street kicked off the third quarter on Monday by rallying to new all-time highs, lifted by energy and bank stocks.

The Dow Jones Industrial Average surged 129 points, or 0.61%, to 21,479, after touching a new intraday record of 21,548 in late morning trading. The S&P 500 increased 5.6 points, or 0.23%, to 2,429. The Nasdaq Composite closed 30 points lower, or 0.5%, at 6,110.

U.S. stocks had a blockbuster start to 2017 with fresh records for all three major indices. Technology names like Apple (AAPL) helped carry the market, as the S&P information technology sector climbed more than 16% over the first half.

In the second half of 2017, the broader market may be in for a calmer finish to the year if tech stocks continue to retreat from their elevated valuations. On Monday, the tech sector joined utilities and consumer stocks in the red.

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