Gains in the financial sector pushed the market higher to extend gains for a third consecutive day Thursday.
The Standard & Poor's 500 index set a fresh 17-month high today after closing beyond its highest January numbers. The increase could drive buyers into the market in Friday trading.
Financial shares pushed up after Citigroup Inc. CEO Vikram Pandit announced the bank was poised toward profitability after shedding risky assets. The gains made by citigroup helped negate inflation data from China that threatens to push up the nation’s interest rate.
The Dow Jones industrial average gained 44.51, or 0.4 percent, to 10,611.84. From its year high on Jan. 19, it is down 1.1 percent.
The S&P 500 index rose 4.63, or 0.4 percent, to 1,150.24, surpassing its January peak of 1,150.23. The Nasdaq composite index tacked on 9.51 points or 0.4 percent, to 2,368.46 for its sixth consecutive advance.
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