Business

Tech and consumer shares lift US markets

  • 27 September 2016
  • From the section Business
NYSE traders Image copyright AP

(Close): US markets closed higher, led by technology and consumer sectors, while oil prices fell on fading hopes of an Opec deal to limit output.

A firmer dollar in the aftermath of the first Clinton-Trump presidential debate helped send gold prices lower.

The Dow Jones Average was up 0.74% to 18,174, while the more tech-related Nasdaq rose 0.92% to 5,284. The broader S&P 500 index gained 0.64%.

Stronger consumer confidence data helped to boost retail stocks.

High street firms Macy's and Best Buy gained 1% and 2% respectively.

Technology shares were strong, with Facebook and Google parent Alphabet both rising 1.1%, and Amazon adding 2.1%.

Oil-related shares retreated on lower crude prices, with Anadarko Petroleum losing 0.5% and Halliburton down 1%.