S&P 500, Nasdaq crawl to record high

Credit: Reuters Studio
Published on April 29, 2019 - Duration: 01:12s

S&P 500, Nasdaq crawl to record high

The S&P 500 set an intraday record high on Monday, bolstering the view that the aging bull market has further to run.

Fred Katayama reports.

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S&P 500, Nasdaq crawl to record high

Stocks on Wall Street inched higher Monday.

But that was enough for the S&P 500 and Nasdaq close at record highs yet again.

Both climbed less than two-tenths percent.

The Dow finished flat.

Driving stocks higher: consumer spending rose in March by the most in 9-1/2 years as inflation remained tame.

Invesco chief global market strategist, Kristina Hooper: SOUNDBITE: INVESCO CHIEF GLOBAL MARKET STRATEGIST, KRISTINA HOOPER, (ENGLISH) SAYING: "We could easily see more gains.

This is an environment where you have a lot of positive sentiment fueled by the Fed's more dovish monetary policy stance." After the bell, shares of Alphabet slid more than 4 percent.

Quarterly revenue at Google's parent jumped up but missed estimates.

Earlier during the regular session, investors took profitS on Dow component Disney, whose shares have risen 26 percent so far this month.

The Mouse House had a record turnout for its "Avengers: Endgame" movie over the weekend while theater operator IMAX shares fell after its theaters recorded a record for an opening weekend.

Shares of Occidental Petroleum fell.

Anadarko Petroleum said it'll consider Occidental's $38 billion hostile bid.

Shares of Chevron, which has a lower $33 billion deal to buy Anadarko, rose.

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