From Benzinga: 2024-07-09 14:21:40

Stock markets are hitting record highs driven by financial, consumer discretionary, and utilities sectors. Dow Jones reached 39,908 points in May and now stands at 39,300 points. S&P 500 hit 322.31 points before slipping to 320.49 points. Nasdaq reached $18,530.90 before dropping to $18,445.27.

Financial Select Sector SPDR Fund XLF rose 1.01% with Principal Financial Group (PFG) gaining 3.69% to $81.36. Utilities Select Sector SPDR Fund XLU climbed 1.09% with Vistra Corp. (VST) up 2.77% to $95.45. Consumer Discretionary Select Sector SPDR Fund XLY increased 0.85% with Tesla, Inc. (TSLA) rising 4.23% to $263.64.

Big tech firms like Nvidia Corp. (NVDA) are boosting the S&P 500. Stocks are near record highs as Federal Reserve Chairman Powell gave positive remarks on the economy and job market during his testimony before the Senate Banking Committee.



Read more at Benzinga: NASDAQ, S&P 500 Hit Record Highs: What’s Driving The Action? – Principal Finl Gr (NASDAQ:PFG), NVIDIA (NASDAQ:NVDA)