The major indices closed Monday’s trading session at new record heights. The optimism was led by Technology, Financial, and Energy sector stocks. The climb continued the next day as both the Dow Jones Industrial Average and S&P 500 index closed at new record levels. Several Healthcare sector stocks posted gains following the release of quarterly results, which boosted other stocks in the sector up on the news. In economic news, industrial production ramped up at a faster-than-expected rate in September. Federal Reserve figures show production increased by 0.3% last month to 104.6, versus an expected upswing of 0.2%, and up from a decline of 0.7% in August. Record levels were reached again on Wednesday with the Dow closing above 23,000 for the first time on a variety of economic news. The Federal Reserve’s Beige Book report, which covered activity in September through early October, showed modest or moderate expansion in all 12 districts. Thursday’s activity started weak, but ended nearly flat. In the weekly jobless claims report, initial claims for unemployment insurance continued to decline, falling 22,000 to 222,000 for the week ending October 14. Indices ended trading at new record levels on Friday, with the Dow and S&P 500 having posted six straight weeks of gains.
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