Nasdaq pushed to record high

Nasdaq pushed to record high

The Nasdaq closed at a record high on Thursday (June 18), up 68 points, or 1.34 per cent, to 5,132.95.

The Dow Jones Industrial Average index gained 180 points, or 1 per cent, to close up 18,115.84, while the S&P 500 gained 20.8 points, or nearly 1 per cent, to reach 2,121.24.

It was the first time all three indices had closed higher for the third day since April, according to reports.

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The gains made by the three indices came after a dovish statement from the Federal Open Market Committee which seemed to suggest that following the first rate hike, any further increases thereafter would be gradual.

Many remain split on whether the first interest rate increase will come in September or December this year though.

The indices also responded to positive economic data, as figures from the US Labor Department showed jobless claims were down 12,000 to 267,000 for the week ending June 13.

The consumer prices index (CPI) rose 0.4 per cent in May, compared to a rise of 0.1 per cent in April.