Dow, S&P 500 close at record highs

The Dow Jones Industrial Average and S&P 500 index closed at record highs Friday as investors remain cautiously optimistic about economic growth and progress against the pandemic.

The Dow rose 297.03 points, or 0.9%, to close at a record 33,800.60, after hitting an intraday all-time high of 33,810.87. The S&P 500 index rose 31.63 points, or 0.8%, to end at a record 4,128.80, after setting an intraday record peak of 4,129.48. The Nasdaq Composite Index rose 70.88 points, or 0.5%, ending at 13,900.19.

Stocks linked to the recovering economy led the gains again amid the accelerating vaccine rollout.

On the data front, the U.S. producer-price index rose 1% in March, the U.S. Labor Department said Friday. The rate of wholesale inflation over the past 12 months climbed to 4.2% in March. That's the highest level since September 2011.

 

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