The Dow Jones Industrial Average and the S&P 500 closed at record highs on November 27, led by the jump of Hewlett-Packard after the personal computer maker’s earnings, while the Nasdaq finished at a high of 13 years.
Hewlett-Packard Co (HPQ.N) shares shot up 9 percent to $27.36, the highest since August, after the company reported stronger-than-expected results.
Nasdaq got its biggest boost from Apple Inc (AAPL.O), which rose 2.4 percent to $545.96, the stock’s highest level since January 2013.
“We’re seeing some rotation into the tech sector, which was left out of broader market gains,” said Frank Davis, director of sales and trading at LEK Securities, in New York.
The Dow Jones industrial average .DJI rose 24.53 points or 0.15 percent, to end at 16,097.33, a record closing high. The S&P 500 .SPX gained 4.48 points or 0.25 percent, to finish at 1,807.23, a record closing high. The Nasdaq Composite .IXIC added 27.001 points or 0.67 percent, to close at 4,044.75.
U.S. light crude oil futures fell 1.5 percent to settle at $92.30 a barrel that would very soon mean lower gasoline prices for consumers.
The November Chicago Purchasing Managers Index and the final November reading for the Thomson Reuters/University of Michigan consumer sentiment index exceeded expectations.