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Stock indexes close mostly up; New highs for S&P 500, Dow

The New York Stock Exchange on Oct. 25,

The New York Stock Exchange on Oct. 25, 2016. Photo Credit: AP / Mary Altaffer

Big-name companies notched gains on Wall Street Tuesday, delivering more records for two of the major stock indexes.

The Standard & Poor’s 500 index and the Dow Jones industrial average finished at all-time highs for the second day this week, while a slide in technology stocks pulled the Nasdaq lower. Small-company stocks also lagged.

Banks and other financial stocks led the gainers as the Federal Reserve met to discuss interest rates. The central bank is expected to raise rates for the third time this year on Wednesday, which allows banks to charge more to lend money.

Technology stocks declined the most. Energy stocks also fell as crude oil prices closed lower. Bitcoin futures fell on their second day of trading.

“It’s another day, another all-time high,” said Brian Nick, chief investment strategist at Nuveen Asset Management.

The S&P 500 index rose 4.12 points, or 0.2 percent, to 2,664.11. The Dow gained 118.77 points, or 0.5 percent, to 24,504.80. The Nasdaq lost 12.76 points, or 0.2 percent, to 6,862.32. The Russell 2000 index of smaller-company stocks fell 3.72 points, or 0.2 percent, to 1,516.12. More stocks fell than rose on the New York Stock Exchange.Energy prices fell. Benchmark U.S. crude slid 85 cents, or 1.5 percent, to settle at $57.14 per barrel on the New York Mercantile Exchange.

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