S&P 500 closes at record high below today’s high on Ukraine concerns

The S&P 500 closed at another record close on Friday but below the day’s highs as worries about tensions in Ukraine resulted in investors locking in gains ahead of the weekend.

The Dow Jones industrial average rose 49.06 points or 0.3%, to 16,321.71. The S&P 500 added 5.16 points or 0.28%, to 1,859.45, a record close. The S&P 500 hit an intraday record of 1,867.92. The NASDAQ Composite Index dropped 10.814 points or 0.25%, to 4,308.119.

Chris Bouffard, chief investment officer at The Mutual Fund Store said: “We are clearly in a bull market and this market is not as overbought as it was at the end of last year”.

Among today’s top percentage gainers, Monster Beverage shares rallied 5% to $74.

Salesforce Inc. shares dropped 5.8% after posting losses for the fourth quarter on Thursday.

The S&P 500 retail index was up 4.5% for the week boosted by upbeat results from Home Depot.

At the close of European trade, Germany’s DAX added 1.08%, France’s CAC 40 added 0.27% and the EURO STOXX 50 was up 0.16%. In the U.K., the FTSE 100 dropped 0.01%.

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