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U.S. stock indexes close slightly higher; gains in tech

An Exchange Place street sign is seen near

An Exchange Place street sign is seen near the New York Stock Exchange on Feb. 21, 2017. Credit: Bloomberg / Michael Nagle

Gains in technology companies helped lift U.S. stock indexes higher Monday, nudging the market once again into record territory.

The Standard & Poor’s 500 index closed at an all-time high, as did the Dow Jones industrial average. The latest gain extended the Dow’s winning streak to 10 days.

Traders bid up shares in microchip makers and other technology companies. Grocery chains, drugstore operators and other consumer-focused companies also helped drive the market higher. Energy companies declined the most along with the price of crude oil. Banks and industrial companies also lagged.

Investors were mostly focused on the latest company earnings and deal news.

“Earnings have been strong, particularly revenue growth has come in stronger than initial estimates,” said Quincy Krosby, chief market strategist at Prudential Financial. “And overall the guidance has been strong.”

The S&P 500 index rose 0.16 percent to 2,480.91. The Dow gained 25.61 points to 22,118.42. The Nasdaq composite closed up 0.51 percent to 6,383.77. The Russell 2000 index of smaller-company stocks picked up 0.13 percent to end at 1,414.17. — AP

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