Nasdaq, S&P 500 close at record highs for 4th straight day

By Ovunc Kutlu

ISTANBUL (AA) - The Nasdaq and the S&P 500 closed at record highs Thursday for the fourth straight trading day.

The S&P 500 rose 12 points, or 0.23%, to finish the session at 5,433 and the Nasdaq added 59 points, or 0.34%, to end the day at 17,667.

The Dow Jones Industrial Average, on the other hand, fell 65 points, or 0.17%, to end the session at 38,647, marking the third consecutive daily loss for the blue-chip index.

The record feats came after producer prices in May cooled down on an annual and monthly basis and came in below market estimates.

Producer inflation rose 2.2% annually in May, coming in lower than market estimates of a 2.5% gain and slowing down slightly from a 2.3% year-on-year increase in April, according to Labor Department figures released earlier.

On a monthly basis, the producer price index unexpectedly declined 0.2% and managed to come in below market estimates of a 0.1% increase, falling significantly from a monthly gain of 0.5% in April.

The VIX volatility index, also known as the fear index, fell 0.83% to 11.94. The 10-year US Treasury yield dove 1.17% to 4.243%.

The dollar index rose 0.52% to 105.19, while the euro shed 0.62% to $1.0740 against the greenback.

Precious metals were in the red, with gold losing 0.9% to $2,304 per ounce and silver plummeting 2.6% to $28.96.

Oil prices were down around 0.5%, with global benchmark Brent crude at $82.22 and US benchmark West Texas Intermediate at $78.02.