Three US stock indices climb higher

IconCryptoNewsTerminal Staff30 Aug, 2024

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Three US stock indices climb higher

The three major US stock indices closed higher on Tuesday, extending their gains from the previous session. The Dow Jones Industrial Average rose 0.6%, the S&P 500 gained 0.4%, and the Nasdaq Composite advanced 0.3%. The gains were broad-based, with all 11 sectors of the S&P 500 closing higher. The best-performing sector was energy, which rose 1.3%. The worst-performing sector was utilities, which slipped 0.1%. The positive sentiment was supported by a number of factors, including strong corporate earnings and optimism about the economic outlook. However, concerns about rising interest rates and the ongoing Russia-Ukraine conflict kept a lid on gains. Overall, the US stock market is off to a strong start in 2023. The three major indices are all up by more than 5% for the year. However, it is important to note that the market is still volatile and could experience setbacks in the coming months.

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