Broad-based index was buoyed higher by a better-than-expected reading on the US economy as GDP grew 3.3% in the fourth quarter.
The S&P 500 (SPX) closed at a record for the fifth day in a row after first treading on unseen territory last Friday. The main Wall Street average advanced 0.5% on Thursday powered by a hot new US report. Gross domestic product data showed the US economy expanded by a surprise 3.3% growth in the fourth quarter, topping expectations for 2%.
The other two benchmarks also sprinted higher. The blue-chip Dow Jones Industrial Average clinched another all-time closing record after adding 0.6% and crossing 38,000 points. The tech-focused Nasdaq Composite jumped a modest 0.2%, but remains in the lead for this week’s rankings, boasting an increase of 1.3%.
A stacked week of earnings reports is coming next. It’ll be a week for the geeks with all the major tech players slated to announce financial performance. Microsoft MSFT, which just topped $3 trillion, and Google owner Alphabet GOOGL report on Thursday. Apple AAPL, Amazon AMZN, and Facebook parent Meta META are on tap to deliver financial updates on Friday after the closing bell.