US STOCKS-Wall St at records, on track for 2nd straight weekly gain

viernes 26 de diciembre de 2014 11:09 GYT
 

* Markets on track for positive week, indexes near records

* Trading volume likely to be light after holiday

* Biotech stocks rise

* Indexes up: Dow 0.4 pct, S&P 0.4 pct, Nasdaq 0.5 pct (Updates to market open)

By Ryan Vlastelica

NEW YORK, Dec 26 (Reuters) - U.S. stocks rose on Friday, with major indexes hitting new records and on track for a second straight weekly advance, though trading was light with many traders still out for the Christmas holiday.

The day's move was broad, with all 10 S&P 500 industry sectors higher on the day. The advance continued Wall Street's recent upward bias, with the S&P up about 6 percent from a recent closing low hit earlier this month.

The S&P is on track for its 52nd record close of the year, the most since 1995 and the fourth-best annual record ever, while the Dow is on track for its seventh straight daily raise, its longest streak since March 2013.

"The overall trend remains higher, but we're reaching a point where we're overbought. Six percent since last Tuesday is such a strong move in such a short period of time, even if bulls have the upper hand in the longer term," said Adam Sarhan, chief executive of Sarhan Capital in New York.   Continuación...