The S&P 500 and Nasdaq closed at record highs on Friday, with both lifted by Apple after data pointed to some pockets of strength in the U.S. economy.
The Dow Jones Industrial Average .DJI rose 0.69% to end at 27,930.33 points, while the S&P 500 .SPX gained 0.34% to 3,397.16.
The Nasdaq Composite .IXIC climbed 0.42% to 11,311.80.
For the week, the Dow was near unchanged, the S&P 500 rose 0.7% and the Nasdaq added 2.7%.
U.S. business activity snapped back to the highest since early 2019 in August, according to IHS Markit surveys, as companies in both manufacturing and services sectors saw a resurgence in new orders.
Another report showed U.S. home sales rose at a record pace for a second straight month in July and home prices hit all-time highs.
The unexpectedly sharp increases in Markit’s indexes extend a pattern of choppy U.S. economic data this week - including weekly jobless claims - that paint a picture of a fitful recovery from the COVID-19 recession.
Investors also worry about a stalemate in talks between House Democrats and the White House over the next coronavirus aid bill as about 28 million Americans continued to collect unemployment checks.
Reference: Reuters
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