Dow Rises Fifth Straight Session to Record 54,349; Nasdaq Falls 221 Points; Market Eyes US-Iran Hormuz Deal
The Dow Jones Industrial Average rose for a fifth straight session, gaining 263.24 points to close at a record 54,349.12, its third consecutive record high. The Nasdaq Composite fell 221.55 points to 26,363.44, snapping a five-session winning streak. Amgen and Walt Disney advanced, while Alphabet and Chevron were sold off. Market participants are watching for a possible interim US-Iran agreement on the Strait of Hormuz.
On the New York stock market, the Dow Jones Industrial Average rose for a fifth consecutive trading day on the 5th, closing up 263.24 points from the previous session at 54,349.12, marking a third consecutive record closing high. The technology-heavy Nasdaq Composite Index fell for the first time in five sessions, dropping 221.55 points to close at 26,363.44.
Shares of pharmaceutical company Amgen and entertainment and media company Walt Disney advanced, while shares of information technology company Alphabet and oil company Chevron were sold off.