Dow, S&P 500 Carve Out Fresh Records As Tech, Consumer-staples Stocks Climb

By Mark DeCambre Markets MarketWatch Pulse

The Dow booked its 9th straight record and the S&P 500 also notched an all-time high on Monday, lifted by gains in technology and consumer-staples stocks. The Dow Jones Industrial Average added a modest 0.1% to at 22,118, but posted its longest winning streak since February, while the S&P 500 index gained 0.2% at 2,480, powered by a 0.7% rise in the consumer-staples sector, headlined by a 5.7% rise in Tyson Foods Inc. shares after the meat-producer reported better-than-expected revenue. The Nasdaq Composite Index enjoyed the best daily gain of its peers, up 0.5% at 6,383, logging the best advance for the technology-focused index since July 18, according to FactSet data. The modest rise in equities came as government bonds hovered at lows, with the benchmark 10-year Treasury note yielding 2.26%. Bond prices move inversely to yields. Lower bond yields can make owning stocks, perceived as riskier, more attractive to investors.

Continue Reading Below

Copyright © 2017 MarketWatch, Inc.