Analysts say construction is helping to drive economy as Wall Street sees record closes
JaysonPhotography/iStock/Thinkstock(NEW YORK) — Stocks continued their upward climb in the new year with all three major indices setting records on Wednesday.
The Dow Jones Industrial Average finished the day at a record 24,992.68, gaining 98.67 during the session.
The Nasdaq jumped nearly one percent (58.63, 0.84%) to 7,065.53 at the close, while the S&P 500 ended trading at 2,713.06, 17.25 higher than it opened.
The Commerce Department says builders spent just under one percent more on projects in November. That marks four straight months of increases. Analysts say that indicates construction is helping to drive the economy, in part in the aftermath of last fall’s hurricanes.
Bloomberg says movie theater attendance hit a 25 year low last year. That could be in part caused by a lack of summer blockbusters and more Americans staying home to use streaming services.
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