Thursday 9 June 2016

Dow Finishes back above 18,000 as Dollar Dips

The Dow ended above 18,000 for the first time since April on Wednesday as declines in the dollar lifted some commodity-related shares and boosted the outlook for multinationals.

The S&P 500 materials index climbed 0.6 percent following gains in copper and gold prices. Energy shares were lower despite a jump in oil prices. The benchmark S&P 500, up for a third straight session, is now about 12 points shy of its all-time closing high of 2,130.82. 

Helping sentiment was a weaker dollar, which tends to benefit US multinationals that derive a large portion of their sales from overseas. The S&P industrials index rose 0.7 percent, the day's best-performing S&P index.

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