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Who’s worried about North Korea’s latest missile launch and tepid US economic data? Not Wall Street, apparently.
All three major equities indices hit new intraday highs on Friday morning, unperturbed by the release of data showing unexpected drops in US retail sales and industrial production during August, as well as the latest instance of sabre-rattling by Pyongyang Thursday night.
The S&P 500 rose 0.08 per cent to an intraday record of 2,499.25, powered by gains in the telecoms, industrials and technology sectors. The Dow Jones Industrial Average, which has set three straight closing records in a row, gained 0.22 per cent to a new intraday peak of 22,258.8. The Nasdaq Composite, up 0.34 per cent, reached an earlier peak of 6,464.3.