Big Gains for Travel Stocks as S&P 500, Nasdaq Set Records

Nasdaq closed above 15K for first time
By Newser Editors and Wire Services
Posted Aug 24, 2021 3:41 PM CDT
Nasdaq Rises Over 15K for First Time
A sign for Wall Street hangs in front of the New York Stock Exchange, July 8, 2021.   (AP Photo/Mark Lennihan, file)

Stocks closed modestly higher on Wall Street Tuesday, enough to nudge the Nasdaq composite to a record high and past 15,000 for the first time. The broader S&P 500 index also set a record high. Banks, consumer-focused companies, and small-company stocks outpaced the rest of the market. The price of crude oil had its second solid gain in a row, clawing back some more of the ground it lost over the previous two weeks. Halliburton, Occidental Petroleum and Valero Energy all rose 3% or more. The yield on the 10-year Treasury note rose to 1.29%. The S&P 500 rose 6.70 points, or 0.2%, to 4,486.23. The Dow Jones Industrial Average rose 30.55 points, or 0.1%, to 35,366.26. The Nasdaq rose 77.15 points, or 0.5%, to 15,019.80.

Best Buy jumped 8.3% for the biggest gain in the S&P 500 after reporting results that were better than analysts were expecting and raising its full-year forecast, the AP reports. Travel companies were also broadly higher. Las Vegas Sands rose 7.5% and Wynn Resorts gained 7%. Airlines and cruise line operators also rose. American Airlines was up 3.8% and Delta Air Lines added 3.4%, while Norwegian Cruise Line climbed 4.6% and Carnival rose 4.4%. Pfizer fell 3.1% after rising sharply the day before following the Food & Drug Administration’s full approval of its COVID-19 vaccine. The approval has given cities and companies the legal backing to start requiring mandates. On Monday, New York City and the Department of Defense announced vaccine requirements.

(More stock market stories.)

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