USA stocks tottered higher Monday behind gains for chemical and machinery companies.
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In New York, the Dow Jones industrial average added 59.58 points to close at 18,636.05, the broader S&P 500 composite index advanced 6.10 points to 2,190.15 and the Nasdaq composite was up 29.13 points to 5,262.02. The S&P 500 materials index .SPLRCM gained 1.1 percent.
A strong monthly jobs report on August 5 boosted optimism about the US economy, driving all three major indexes to close at record levels last Thursday for the first time since 1999. “People are just feeling good and pushing share prices to new highs”.
As oil prices ticked upward amid more reports that the Organization of the Petroleum Exporting Countries is considering a production freeze, energy stocks enjoyed the strongest performance among major industry sectors.
Since July, the S&P 500 index has registered a string of record intraday highs. He said earnings should pick up this year and continue to improve “over the next few years”.
The Nasdaq Composite was up 18.53 points, or 0.35 percent, at 5,251.42.
Investors will be watching this week for clues on future interest rate hikes as the Federal Reserve releases the minutes from its July policy meeting on Wednesday.
In other deal news, Post Properties (PPS.N) gained 9.4 percent to $68.08 after the company agreed to be bought by Mid-America Apartment Communities (MAA.N) for about $3.88 billion.
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Advancing issues outnumbered decliners on the NYSE by 2,022 to 619. The S&P 500 rose 0.4% and hit a high of 2193.49 and the Nasdaq jumped 0.6% to its new record of 5265.62.
