S&P 500, Dow and Nasdaq race to new records

https://www.thestreet.com/story/14235716/1/s-amp-p-500-nasdaq-sprint-to-new-records-as-broadcast-and-tech-stocks-climb.html

Another day of gains for Wall Street pushed the S&P 500, Nasdaq and Dow Jones Industrial Average to new records on Wednesday, July 19.

The S&P 500 added 0.53% to a record close of 2,473, and the Nasdaq increased 0.64% to 6,385. The Dow was up 0.30 to a new record of 21,640.

Merger talks between Discovery Communications Inc. (DISCA) and Scripps Networks Interactive Inc. (SNI) set the S&P 500 and Nasdaq higher. A Wall Street Journal report broke earlier that the two are in talks to merge, reviving discussions of a merger that fizzled in 2013. The Journal article, which cited sources familiar with the matter, didn’t report on any specifics of the deal, but noted that it’s possible the deal could fall apart or that another bidder for Scripps could emerge.

Scripps shares rocketed 14% higher, while Discovery increased 4%. Other media and entertainment stocks rose, including AMC Networks Inc. (AMCX) , Sinclair Broadcast Group Inc. (SBGI) , CBS Corp. (CBS) and Walt Disney Co. (DIS) .

More gains in the tech sector also helped out markets on Wednesday. Major tech stocks have mostly recovered from a mid-June selloff with the Technology Select Sector SPDR ETF (XLK) now down 0.3% from the first crash on June 9. Apple Inc. (AAPL) shares were up 0.7% on Wednesday, looking to close out the session with gains for the ninth time in a row.

———-

run with the bulls..but dont forget to bring a red flag..

nasdaq flying..i smell an epic bubble..

401

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~ by seeker401 on July 21, 2017.

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