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Last-minute rebound lifts S&P 500, Dow to new highs

Trader Peter Tuchman wears a

Trader Peter Tuchman wears a "Dow 23,000" hat as he works on the floor of the NYSE, Wednesday, Oct. 18, 2017 Credit: AP

A last-minute surge nudged stock indexes mostly higher Thursday, barely extending the market’s winning streak and milestone-setting run.

The Standard & Poor’s 500 index and Dow Jones industrial average closed higher for the fifth straight day, each posting new highs. Other indexes finished slightly lower as investors continued to pore through the latest batch of company earnings.

Technology stocks weighed on the market all day, but gains in health care stocks helped offset some of those losses.

The S&P 500 index rose 0.84 points, or 0.03 percent, to 2,562.10. The Dow added 5.44 points, or 0.02 percent, to 23,163.04. The Nasdaq composite slid 19.15 points, or 0.3 percent, to 6,605.07. The Russell 2000 index of smaller-company stocks gave up 3.10 points, or 0.2 percent, to 1,502.04.

Slightly more stocks rose than declined on the New York Stock Exchange.

Investors bid up shares in drug manufacturers and other health care companies.

Envision Healthcare led the sector, vaulting $4.43, or 10.9 percent, to $45.08.

Apple had its worst day in two months amid investor concern that its recently launched iPhone 8 models are lagging in market share compared to prior iPhone models. The stock finished down $3.78, or 2.4 percent, at $155.98. Despite the slide, Apple is still up 34.7 percent this year.

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