A new high for the Dow as blue-chip index closes within inches of 27,000
Dow 27,000! Well, almost 27,000: The Dow Jones Industrial Average closed at a record high Wednesday of 26,966, up 179 points in a shortened trading day ahead of the July 4 holiday.
The S&P 500 stock index closed at a new high for the third straight day. The most popular investors' proxy for the U.S. stock market is now just 5 points shy of the 3,000 mark.
This week's rally follows a slight easing of trade tensions between the U.S. and China. Both nations have agreed to refrain from new tariffs while they open a new round of negotiations. The development relieved some pressure on the market, although the trade war still looms over global economic growth.
Technology and health care were the key sectors pushing the market higher Wednesday.
Cybersecurity software company Symantec surged 14%. It was doing much of the heavy lifting for the technology sector on reports that it is considering a sale to chipmaker Broadcom. Microsoft and Apple were also making gains.
A broad mix of health care companies lifted that sector. Johnson & Johnson and Merck rose 1%. Cigna rose 2%.
Communications and internet companies were also among the biggest gainers, with strong pushes from Google's parent company Alphabet and Netflix.
Tesla jumped 6% after telling investors that it delivered more electric cars in the second quarter than any three-month period in its history.
The electric car maker has been struggling to meet production promises and to consistently make money. The company delivered 95,200 vehicles during the most recent quarter. It is aiming to deliver 360,000 to 400,000 vehicles for the full year. Just to hit the low end of that target, it will have to deliver more than 200,000 cars in the final half of the year.
Energy stocks lagged the market, weighed down by Chevron and Schlumberger.
The market will close early Wednesday and remain closed Thursday, making for a short week. Investors will be on the lookout for the government's closely watched monthly jobs report scheduled for Friday.
