The Dow Jones industrial average led the major indexes higher Thursday, notching a record close on the second-to-last trading day of the year. It was the Dow's 71st record close for the year.
The index added 63.21 points to close at 24,837.51, with UnitedHealth and IBM contributing the most to the gains. The Dow did not hit an intraday high, but remains less than 0.2 percent away.
As of Thursday's close, the Dow was on pace for slight weekly gains. The last time the Dow rose in each of the final six full weeks of the year was in 1954. That does not include weeks encompassing two different years.
"Those that are in [the market] are hoping we might be able to make a new high at the close of the year," Robert Pavlik, chief investment strategist at SlateStone Wealth. "I think 2018 is going to be a pretty good year."
The S&P 500 rose 0.2 percent to close at 2,687.54 with utilities and telecommunications leading advancers, and consumer staples the greatest laggard. The index closed within half a percent of its all-time highs hit on Dec. 18.
The S&P was also tracking for weekly gains as of Thursday's close. The index would close out the year with six straight weeks of higher trade for the first time the since in 1971.
Trading volume has been low this week. U.S. markets were closed Monday for the Christmas Day holiday and will be closed this coming Monday for New Year's Day.
Meanwhile, the Nasdaq composite also added 0.2 percent to close at 6,950.16 as gains in big technology companies like Apple and Facebook offset declines in biotechnology stocks like Gilead and Amgen. The index is less than 1 percent away from its all-time high.
Information technology is the top-performing sector in the S&P 500 this year, up 38 percent since January.
Commodity prices, typically an indicator of global growth, also held near recent highs. Copper briefly rose more than 1 percent to its highest level in nearly four years. Oil held just below the psychologically key $60 level, a 2.5-year high which it touched earlier this week; crude settled up nearly half a percent at $59.91.
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
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