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What’s That Grinding Noise? U.S. Stocks End 3Q Higher

On the last trading session of the third quarter, technology stocks led the market higher and the S&P 500 and the Nasdaq both ended the day at record closes.


The Dow Jones Industrial Average rose 0.11%to 22,405.09. The S&P 500 rose almost 0.4% to end above 2,519.36. The Nasdaq Composite gained 0.66% to close at almost 6,496.

Over the past three months, all three indices have gained ground despite rising tension with North Korea and a series of devastating hurricanes, largely thanks to corporate earnings and economic data.

According to the WSJ, the Dow has gained 4.9% since the end of June. That makes an eighth straight quarterly increase and he longest wig streak for the benchmark since 1997.

The Technology Select Sector SPDR ETF (XLK) edged up 0.7% today and gained almost 8% since the end of June.

The Energy Select Sector SPDR (XLE) and the iShares U.S. Energy ETF (IYE) both rose 6% during the quarter, lifted by higher oil prices.

The third quarter corporate earnings season gets underway officially next month. Some major names have already posted reports including Nike (NKE), which delivered a dismal outlook earlier this week, and FedEx (FDX).

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