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Rare retail bright spot, US Fed minutes boosts S&P, Nasdaq to record highs

Nasdaq was up 36.52 points at 6,199.54


The S&P 500 and Nasdaq Composite were in record territory in late morning trading on Thursday, buoyed by strong earnings from the embattled retailer sector. Sentiment also got a boost after the minutes of the Federal Reserve's latest meeting showed policymakers expected the economy to pick up momentum and an interest rate hike would come sooner rather than later. While gains were broad based, the consumer discretionary index's 0.83 per cent surge was easily the highest among the 11 major S&P sectors. Best Buy surged as much as 17 per cent to a record high of $58.99, ...

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First Published: Thu, May 25 2017. 22:00 IST