Northern Wyoming Daily News - Serving the Big Horn Basin for over 100 years

US stocks extend gains to a 5th day as tech companies rise

 

May 25, 2017



NEW YORK (AP) — U.S. stocks rose for the fifth consecutive day Wednesday as investors went on a late buying spree. The gains came after news that the Federal Reserve plans to start reducing its huge portfolio of bonds. The Standard & Poor’s 500 index closed at a record high.

Stocks were slightly higher for most of the day as the market kept chipping away at the losses it suffered one week before. Technology companies like TurboTax maker Intuit and materials companies including industrial gas company Praxair made some of the biggest gains.

In the afternoon the Federal Reserve released th...



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