US STOCKS-Dow finishes back above 18,000 as dollar dips

miércoles 8 de junio de 2016 17:45 GYT
 

* Oil prices hit 2016 highs but energy shares down

* Dollar slips on fading view on U.S. rate hike

* Indexes up: Dow 0.4 pct, S&P 0.3 pct, Nasdaq 0.3 pct (Updates close with details on highs)

By Caroline Valetkevitch

June 8 (Reuters) - The Dow ended above 18,000 for the first time since April on Wednesday as declines in the dollar lifted some commodity-related shares and boosted the outlook for multinationals.

The S&P 500 materials index climbed 0.6 percent following gains in copper and gold prices. Energy shares were lower despite a jump in oil prices.

The benchmark S&P 500, up for a third straight session, is now about 12 points shy of its all-time closing high of 2,130.82.

Helping sentiment was a weaker dollar, which tends to benefit U.S. multinationals that derive a large portion of their sales from overseas. The S&P industrials index rose 0.7 percent, the day's best-performing S&P index.

"The weaker dollar and strength in commodity names is certainly helping to fuel the market's strength," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. "Multinational companies are all benefiting and helping to drag the market higher."   Continuación...