United States markets close at record levels

United States markets close at record levels

Graphics chip maker Nvidia Corp (NASDAQ:NVDA) was wanted, rising 6.3% to US$180 on the back of a price target rise by Evercore ISI to US$250 from US$180.

The consumer discretionary index.SPLRCD fell 0.54 percent, pulled down by a 0.74-percent decline in Amazon.com AMZN.O and a 0.93-percent dip in Walt Disney DIS.N.

In Canada, the S&P/TSX Composite closed marginally higher (+0.3) at 15,173.

The major averages all finished the day in positive territory. Winfield Associates Inc. lifted its stake in SPDR Dow Jones Industrial Average ETF by 0.3% during the second quarter. Preliminary data showed volume rose sharply on both the Nasdaq and the NYSE exchanges.

USA stock indexes are inching mostly higher in early trading on Wall Street as more gains for Boeing send the Dow Jones industrial average above the record high it reached a day earlier.

The S&P 500, up 11 percent in 2017, is trading at 17.6 times expected earnings, expensive compared with its 10-year average of 14.3, according to Thomson Reuters Datastream. Markets also rallied as on North Korea's decision not to conduct and anticipated missile test.

More news: Birmingham sack Harry Redknapp after six straight defeats

The geopolitical tension comes at a time when investors have become concerned about valuations and there are questions about the pace of economic growth. The US dollar weakened after an unexpected decline in August retail sales raised concern over the economy's strength.

"I think the market is kind of getting desensitized to that", said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida. Shares of United Technologies rose 2.3% after The Wall Street Journal reported that questions are surfacing over how antitrust authorities will treat its deal for Rockwell Collins.

Advancing issues outnumbered decliners on the NYSE by 1,424 to 1,074.

Pundits put the drop in vehicle sales to higher gasoline prices as markets reacted to Hurricane Harvey.

Additionally, a report from the University of MI showed concerns about the impact of Hurricanes Harvey and Irma have weighed on consumer sentiment in September.

"Excluding the clear hurricane effects, the rest of the August retail sales data was subpar". Semiconductors were among the strongest of the day, with the sector up 1.8%.

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