Stocks opened the week on a positive note as the Dow notched its ninth consecutive record closing high and the S&P 500 posted a new record high for the first time since July 26, while the Nasdaq did not hit a record but still outpaced its peers for the day.
"It's really hard to see anything that could send the market for a stumble," says Bruce McCain, chief investment strategist at Key Private Bank. "Earnings have been pretty good... At some point we're going to hit a roadblock but right now it's hard to see what that will be."
Sector movement mostly was modest, with tech (+0.6%) and consumer staples (+0.7%) finishing at the top of the leaderboard and the energy space (-0.9%) settling at the bottom.
Tyson Foods (+5.7%) was the top performer in the consumer staples group after beating both top and bottom line estimates and issuing upbeat revenue guidance, and chipmakers helped boost the tech sector.
The energy sector was mired in the red as crude oil held a sizable loss for much of the day but retraced nearly all of the decline by the close; WTI settled just 0.1% lower at $49.37/bbl.
Treasury prices ended modestly higher, leaving the benchmark 10-year yield down by a basis point at 2.26%.
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