Dow ends at nearly 3-month high, lifted by McDonald’s stock, but broader market ends lower
The Dow Jones Industrial Average finished modestly higher Thursday, but a surge in crude-oil prices failed to offset a retreat in the technology sector, driving the broader markets lower. The Dow closed up 95 points, or 0.4%, at 25,241, powered by gains in shares of McDonald’s Corp. , which advanced by 4.4%, contributing about 50 points to the price-weighted Dow as the fastfood chain announced plans to cut jobs. The Dow closed at its highest level since March 9, according to FactSet data. The S&P 500 index fell less than 0.1% at 2,770, with the slide in technology sector, as measured by the exchange-traded Technology Select Sector SPDR ETF , down 1%, weighing on the broad-market benchmark. Meanwhile, the Nasdaq Composite Index shed 0.7% to 7,635, ending a four-session win streak for the technology-and-internet-heavy benchmark. Losses for the S&P 500 also halted a similar string of gains. A rise in West Texas Intermediate crude oil , which finished up 1.9% at $65.95, helped to push the exchange-traded Energy Select Sector SPDR ETF up 1.6%.