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  • 2 years ago
Market Roundup: Stocks Close Mixed for the Week After Touching New Highs

Market Roundup: Stocks Close Mixed for the Week After Touching New Highs

The major indices were mixed on Monday with the Dow Jones Industrial Average hitting a new record high while the S+P 500 index and NASDAQ shed some points. Energy stocks led advancers while Technology companies pressured the NASDAQ. The rally continued the following day as we again reached new record levels. Technology and Energy stocks led the advance, likely fueled by a tick up in crude oil. Additionally, the Wholesale Trade report showed U.S. import prices retreated in November, slipping 0.3% last month from a 0.5% increase in October. Export prices decreased by 0.1% in November versus expectations of a flat reading. Indices closed in the red zone on Wednesday amid comments from the Federal Open Market Committee. In a unanimous decision, the Federal Reserve boosted interest rates by a quarter point. The move puts the Fed funds rate at 0.5% to 0.75%, and signaled a faster rate of increases in 2017. In another economic release, U.S. retail sales increased at a slower rate than expecte

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