U.S. close: S & P sees biggest gain since January despite high valuations

Wall Street mixed after record highs

Thursday's market wrap

Health care stocks were higher, while technology companies fell.

AT&T (T.N) rose 2.15 percent and Verizon Communications (VZ.N) added 1.44 percent.

The S&P 500 dipped 0.1% to 2495.62 today, while the Dow Jones Industrial Average rose 45.3 points, or 0.2%, to 22,203.48, a new all-time high. Nvidia Corp (NVDA) gained 6.3% after Evercore ISI raised its price target on the company to $250 from $180.

Additionally, a report from the University of MI showed concerns about the impact of Hurricanes Harvey and Irma have weighed on consumer sentiment in September.

Reports showing an unexpected drop in U.S. retail sales last month and the first drop in industrial output since January, both in part due to the impact of Hurricane Harvey, were also largely shrugged off by the market.

Most of the major sectors showed only modest moves on the day, although significant strength emerged among semiconductor stocks. Economists polled by Reuters had forecast retail sales nudging up 0.1 percent. The index moved higher for the fifth straight day after hitting its lowest closing level in over a year last Friday.

The blue-chip index 64.86 points, or 0.3%, to close at 22,268.34. The S&P 500 closed at 2,500.23 for a gain of 4.61 points or 0.18%.

Evian Championship: Moriya Jutanugarn hopes to emulate sister
Park had been six over through just five holes in the rain and wind before play was abandoned and all scores wiped. Playing in her final tournament before retirement, Japan's Ai Miyazato made a great start with a 68.

Willson Contreras fined and suspended 2 games
Contreras could face a suspension for hitting Baker with his mask after he spiked it following the ejection. Contreras is expected to be in the lineup for the Cubs on Saturday while the appeal process plays out.

Bangladesh condemns North Korea's missile test over Japan, aligns with UNSC resolution
It reached an altitude of about 770km and flew for about 19 minutes over a distance of about 3,700km, South Korea's military said. China, North Korea's ideological ally, called the missle test "a violation of UN Security Council resolutions".

In the background, there was some "market chatter" regarding stocks" then high valuations, what with United States stocks trading at a cyclically-adjusted price-to-earnings ratio of about 30 - a level only seen just before the Great Depression and again prior to the "Dot com' bubble.

Jewelry seller Tiffany dropped $3.44, or 3.6 percent, to $92.07 and grocery store Kroger fell 46 cents, or 2.1 percent, to $21.27.

Yields on longer-dated U.S. Treasury maturities briefly added to earlier declines after the weak data revived some concerns about slower economic growth in the third quarter and the possibility of a Fed rate hike.

There was mixed news from the manufacturing sector, as total industrial activity plunged 0.9% percent in August, versus expectations of a 0.1% decline. Many companies on the British FTSE 100 are multinationals whose overseas earnings are diminished in value when the pound appreciates against other currencies.

OIL: Benchmark U.S. crude oil rose 71 cents, or 1.4 percent, to $50.01 a barrel, the first time in a month it traded above $50. The pound jumped to $1.3354 from $1.3197. Brent crude, the standard for worldwide oil prices, gained 15 cents to $55.62 a barrel in London. South Korea's Kospi recouped initial losses to end 0.4 percent higher.

Lyxor UCITS ETF Dow Jones Industrial Average D-EUR (DJEL.L) shares are showing downward momentum according to the Aroon Down indicator as the reading has climbed above 70. The euro rose to $1.1938 from $1.1914.

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