US stocks end at fresh records, led by ISM data

Growth in US services sector hits 12-year high, exceeding expectations

By Ovunc Kutlu

NEW YORK (AA) – U.S. stocks ended at all-time highs Wednesday as data showed the services sector had expanded at its fastest pace in 12 years.

The Institute for Supply Management said in a report that its headline services index jumped to 59.8 in September from 55.3 in August, exceeding economists’ expectations. A reading above 50 indicates growth in the sector.

The Dow rose 19 points to finish at 22,661, closing with gains for the sixth consecutive trading day.

The S&P added three points to end at 2,537 points, while the Nasdaq rose two points to 6,534 points.

Both indexes posted gains for the seventh trading day in a row.

Global streaming and entertainment company Netflix saw its shares rise by nearly 3 percent while Amazon rose 0.9 percent.

Shares of electric automaker and energy storage firm Tesla rose nearly 2 percent.

Kaynak:

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