U.S. Stocks Open In Record Territory, Set To Rise For 5th Straight Day
U.S. stocks opened in record territory on Friday, putting them on track to rise for a fifth straight day as investors brace for the Federal Reserve to raise interest rates for the first time in a year at at next week's meeting. Market-based indicators are pricing in a nearly 100% chance of a hike. The S&P 500 index gained 4 points, or 0.2%, to 2,249, while the Dow Jones Industrial Average climbed 15 points, or 0.1%, to 19,629. The Nasdaq Composite Index advanced 23 points, or 0.4%, to 5,441. Five of the most widely watched U.S. stock benchmarks closed at record highs on Thursday for the first time in 18 years. Crude oil prices rose, with U.S. futures trading above $51 a barrel, helping to bolster energy and materials shares. Shares of Coca-Cola Co. rose more than 1% after the company announced that Chief Executive Officer Muhtar Kent will leave the company, effective May 1.
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