Equities climbed again Thursday on optimism that the US and Iran will extend a fragile ceasefire in the Middle East and on signs of improvement in the labor market.The S&P 500 Index closed 0.3% higher in New York, hitting another record as the energy and real estate sectors led gains.
The US stock benchmark has posted only one daily decline so far in April and is up more than 7% this month.The Nasdaq 100 rose 0.5%, also reaching a record, and extended its winning streak to 12 days, its longest since 2017.
The blue-chip Dow Jones Industrial Average gained 0.2%.“The trend remains positive, and sellers are not willing to fight the tape,” said Louis Navellier, chief investment officer at Navellier & Associates.Oil prices rose Thursday as the US and Iran weighed an extension of their ceasefire agreement, which is set to end next week.A busy week of financial-sector earnings continued to produce mixed results.
Bank of New York Mellon Corp.
shares rose after net interest income beat Wall Street estimates and the board authorized a new $10 billion share buyback plan.
Charles Schwab Corp.
shares slipped on a revenue miss even as total new assets solidly beat analyst expectations,....
