Another positive day for U.S. stocks, their seventh over the past eight sessions, with the major indexes once again notching fresh closing highs.
Stocks closed broadly higher on Wall Street, giving the S&P 500 index its 10th winning week in the last 11. Technology and health care stocks powered the rally, which led to more all-time highs for the S&P 500, Dow Jones Industrial Average and Nasdaq composite.
The Dow Industrials rose 78 points to finish at 28,455, while the Nasdaq Composite gained 37, and the S&P 500 added 15.
Rising optimism around a ``Phase 1'' trade deal announced a week ago between the US and China has helped drive stocks higher. And the market is heading into what's historically been a seasonally good period.
On the same day that cruise-line operator Carnival reported better-than-expected quarterly results, sending shares surging 7.6%, came word that two of its ships collided this morning while at port in Cozumel, Mexico. The company said the Carnival Glory was maneuvering to dock and hit the already-docked Carnival Legend. The Glory suffered some very noticeable damage, but Carnival says both cruise liners remain seaworthy, and their itineraries won’t be affected by the crash.
Oil futures retreated today. February crude slid 74 cents, or 1.2%, to settle at $60.44 a barrel. Still, the price rose about a half-percent for the week.