Dow, S&P 500 close at records; Nasdaq at 14-year high

Ed Brackett, USA TODAY 4:16 p.m. EDT June 20, 2014


(Photo: Mark Lennihan, AP)

Wall Street's record-breaking rally continued Friday as the Dow and S&P 500 close at new all-time highs and the Nasdaq hit a 14-year closing high.

The Dow Jones industrial average rose 25.62 points, or 0.2%, to 16,947.08, topping its previous record close of 16,945.92 set on June 10.

The Standard & Poor's 500 index gained 3.39 points, or 0.2%, to 1962.87. This is the 22nd closing high for the benchmark index this year.

The Nasdaq composite index rose 8.71 points, or 0.2%, to 4368.04.

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Drew Wilson, equity analyst with Fenimore Asset Management, said the market appears to be shrugging off worries about geopolitical concerns in Iraq and Ukraine, focusing instead on specific company performance.

"It's mostly been this tug-of-war of companies in the indexes," Wilson said. "It's this daily churn, which is one of the reason we have such low volatility."

The yield on the 10-year Treasury note was unchanged at 2.62%.
In corporate news, CarMax shares jumped 16% after the company reported earnings that easily beat expectations.

Overseas, Japan's Nikkei 225 index closed down 0.1% to 15, 349.42. Hong Kong's Hang Seng index rose 0.1% to 23,194.06
European markets were mixed as London's FTSE index rose 0.3% to 6825.20. Germany's DAX index fell 0.2% to 9987.24 and France's CAC 40 dropped 0.5% to 4541.34.

Thursday, the S&P 500 rose 2.50 points, or 0.1%, to 1959.48. The Dow gained 14.84, or 0.1%, to 16,921.46. The Nasdaq fell 3.51 points, or 0.1%, to 4359.33.

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