S&P 500 Touches Milestone Last Seen in August

Benchmark index hits 4,300, though it closes just under that mark
By Newser Editors and Wire Services
Posted Jun 9, 2023 3:40 PM CDT
S&P 500 Touches Milestone Last Seen in August
Traders work on the floor at the New York Stock Exchange in New York, Friday, June 2, 2023.   (AP Photo/Seth Wenig)

Stocks saw modest gains on Friday, but logged a fourth straight winning week on Wall Street as investors wait for next week's slate of potentially market-moving updates.

  • The Dow rose 43 points to 33,876. The daily gain was only 0.1%, about the same with all three major indexes.
  • The S&P 500 ticked up 4 points to 4,298. CNBC notes the benchmark index at one point hit 4,300, the first time it has done so since August.
  • The Nasdaq rose 20 points to 13,259.

Tesla was at the front of the market, rallying 4.4% after announcing General Motors electric vehicles will be able to use much of its extensive charging network beginning early next year, per the AP. GM rose 1.2%. They helped overshadow losses for energy stocks, which fell with the price of crude oil. Exxon Mobil slipped 0.6% and was one of the heaviest weights on the market. Ski resort operator Vail Resorts, meanwhile, dropped 6.3% after reporting weaker results for the latest quarter than analysts expected.

This week has been relatively quiet for markets, even with the benchmark S&P 500 index gaining enough Thursday to close 20% above its October low, entering a new bull market. More fireworks could arrive next week when the government releases the latest monthly updates on inflation at the consumer and wholesale levels. The Federal Reserve will also announce its latest move on interest rates.

(More stock market stories.)

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