US markets reach all-time highs



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Dow Jones Industrial Average

Last Updated at 17 Nov 2017, 20:59 GMT *Chart shows local time Dow Jones intraday chart
value change %
23358.24 -
-100.12
-
-0.43

Top winner and loser

Nike Inc.

59.19 +
+1.96
+
+3.42

Intel Corp.

44.63 -
-1.02
-
-2.23
value change %

Nasdaq Index

6782.79 -
-10.50
-
-0.15

S&P 500 Cash Index - Chicago Mercantile Exchange

2578.85 -
-6.79
-
-0.26

(Close): US stocks have hit record levels, with both the Dow Jones and the S&P 500 closing at all-time highs.

The Dow Jones index gained 155.93 points to reach 18,288.63, while the S&P 500 rose 12.89 points to 2,117.39.

For its part, the tech-heavy Nasdaq rose 44.57 points to 5,008.10 points, marking the first time since 10 March 2000 that it had closed above 5,000.

The markets were buoyed by merger activity and China's decision to cut interest rates over the weekend.

On the Dow, finance group Visa led the way, climbing 2.5%.

Oil companies fared less well, with Chevron and Exxon Mobil down 0.8% and 0.6 respectively.

The day's biggest merger announcement was NXP Semiconductor's $16.7bn buyout of Freescale Semiconductor, while Hewlett-Packard agreed a $3bn deal for Aruba Networks.

On the Nasdaq, medical diagnostics company Biocept continued its strong recent run, rising 14.9%, while Cyclacel Pharmaceuticals was up 11.3%, with both companies benefiting from strong sentiment towards the biotech sector.

On the downside, education loan group Navient Corporation was down 8.8%.