Stocks Rise as S&P 500 Extends Record High
NEW YORK (TheStreet) -- Major U.S. indices were rising Friday, extending the S&P 500's record highs and eyeing possible weekly gains.
Markets were being bolstered by the Federal Reserve's supportive policy announcement earlier this week. But further upside remained restricted by the troubles igniting in Iraq.
The Dow Jones Industrial Average was rising 0.3% to 16,964.72. The S&P 500 rose 0.2% to 1,962.63. The Nasdaq was up 0.07% to 4,362.43. Higher-than-usual volume is expected Friday due to quadruple witching, which refers to the expiration of various stock index futures, stock index options, stock options and single stock futures.
European markets were mixed. The FTSE in London rose 0.3% while stocks in Frankfurt and Paris fell less than 1%.
President Barack Obama has sent 300 U.S. Special Operations troops to support the Iraqi army in combatting insurgents from the al-Qaeda splinter group, Islamic State of Iraq and Syria (ISIS). President Obama said additional action is possible if needed, but that combat troops will not be sent to Iraq.
The S&P 500 quietly broke a record high Thursday as markets made up for slight losses earlier in the day. -- By Andrea Tse in New York June 20 Premarket Briefing: 10 Things You Should Know European Stocks Lose Momentum but Remain Higher S&P 500 Quietly Breaks Record High as Markets Drift Up
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