NEW YORK: The S&P 500 stock index gained marginally on Monday, notching an all-time closing high after data showed a rise in retail sales and as investors mulled when the Federal Reserve may begin to scale back its $85-billion-a-month bond-buying program.
“The market is pricing in a diverse set of information,” said Stephen Wood, chief market strategist for Russell Investments.
The S&P 500 index finished at 1,633.77, above Friday’s closing level of 1,633.70, marking a record close.
Health care was the best performing sector and telecommunications the worst performing one among the index’s 10 major industry groups.
The Dow Jones industrial average declined 26.81 points, or 0.2 percent, to end at 15,091.68, with 13 of its 30 components ending positive. Aluminum producer Alcoa Inc. was the biggest decliner in the Dow, falling 2 percent.
The Nasdaq Composite Index rose 2.21 points, or 0.1 percent, to end at 3,438.79.
Trading this week will be driven by data, with emphasis on the Empire State index Wednesday, Philadelphia Fed data Thursday and the preliminary University of Michigan-Thomson Reuters consumer-sentiment gauge due Friday.