Markets Right Now: Dow, S&P 500 notch record highs

Reuters     
       A passerby in Tokyo walks under a TV screen reporting news about North Korea's latest missile launch

Reuters A passerby in Tokyo walks under a TV screen reporting news about North Korea's latest missile launch

The Dow Jones Industrial Average (NYSEARCA:DIA) rose 0.3% to close at 22,268.34 for its sixth consecutive gain.

The benchmark gained 0.2 per cent to 2,500.23 on Friday, capping its biggest weekly advance since January, as technology shares rebounded and banks rose with Treasury yields.

First, the data. Headline CPI rose 0.4% month-over-month in August, beating forecasts for a 0.3% increase, while Core CPI, which excludes food and energy, rose 0.2%, meeting expectations.

Friday's calendar includes data on retail sales, industrial production, business inventories and consumer sentiment, followed by the Baker Hughes rig count later in the afternoon.

The major averages all finished the day in positive territory.

The S&P 500 Index powered past 2,500 for the first time, notching its third round-number milestone of the year as the bull market in us equities rages on. The Dow Jones Small-Cap Growth TSM Index closed at 8,731.63 for a gain of 29.68 points or 0.34%.

Catalan funds in firing line in independence referendum row
Earlier, Spain's Constitutional Court suspended legislation passed in the Catalan parliament which paved the way for the vote. City authorities have been forced to sign an agreement that federal money will not be used for referendum purposes.

With economic themes back in the foreground, markets are showing signs of becoming conditioned to provocative actions from North Korea, which has launched more than a dozen missiles this year and tested a nuclear device.

"The market reaction to the latest launch would suggest investors are getting a little worn out with North Korean threats, but this could easily change if there is any escalation", suggested Jasper Lawler at spread betting firm LCG.

"Retail sales numbers from the U.S. are pretty disappointing". Rival TransUnion lost $1.47, or 3.4 percent, to $41.61 and Experian fell 0.9 percent in London. It later settled at $49.95 a barrel for a gain of 0.1%. "This is significant because it feeds into the consumer spending numbers for GDP and marks quite a slowdown from the3.3% annualised pace of growth seen in 2Q", Knightley added.

COPYRIGHT VIOLATION NOTICE: "Investment Centers of America Inc". Nvidia Corp (NVDA) gained 5.5% after Evercore ISI raised its price target on the company to $250 from $180. They yielded 1.06 percent and 1.19 percent in when-issued trading. "The price is coming down so quickly that it's helping demand".

"The net impact of hurricanes on broader retail sales is not obvious". US retail sales unexpectedly fell in August (http://www.marketwatch.com/story/us-retail-sales-slump-near-end-of-summer-2017-09-15), dropping 0.2% in their second decline of the past three months. 2,372,304 shares of the stock were exchanged.

Wholesale gasoline rose 3 cents to $1.66 a gallon.

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