Published: Wed, September 13, 2017
Business | By Max Garcia

Dow, S&P 500, Nasdaq close at record highs

Dow, S&P 500, Nasdaq close at record highs

The S&P 500, Dow Jones industrials and Nasdaq Composite clocked record closes, with investors drawn to riskier assets as concerns about us tensions with North Korea eased and the financial impact from Hurricane Irma appeared less severe than was feared last week.

Wall Street was in record territory on Tuesday, with the S&P 500 closing at another all-time high as gains in financials and telecom stocks helped outweigh declines in real estate and utilities.

The S&P 500 rose 1.08% on Monday, Sept. 11, to a new record at 2,488.11.

"There's a relief factor, at least for the moment, that the North Korea situation has gone a little bit quiet, and the fact that the hurricane over the weekend was not as bad as expected", said Dave Donabedian, chief investment officer of CIBC Atlantic Trust Private Wealth Management.

U.S. futures pointed to another upbeat session on Wall Street on Tuesday as investors eyed the latest iPhone release from Apple. Pfizer (PFE) gained the most on the Dow, while Goldman Sachs (GS) and Caterpillar (CAT) also rose in another day of widely spread gains.

Apple saw some of the steepest losses in opening trade.

The Nasdaq composite advanced 72.07 points, or 1.1 percent, to 6,432.26. Information technology rose 1.4%, sending the Nasdaq Composite higher for the third time in four days.

The TSX on the Toronto exchange shed 5.65 at 15,149.

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