The S&P 500 touched a new record on Thursday, joining the Dow Jones Industrial Average in wiping out a two-month swoon amid strong profits and year-end optimism.
The 30-stock index retreated 6.26 points to 35,603.08, dragged down by a 9.5% loss in IBM.
The S&P 500 regained 13.59 points to 4,549.79,
The NASDAQ Composite gained 94.02 points to 15,215.70.
Tesla did a lot of the heavy lifting for the S&P 500, jumping 3% following strong earnings from the electric vehicle maker. The S&P 500 has mounted a comeback this month as booming profit reports trumped worries about inflation and a potential end to Federal Reserve bond buying. The S&P 500 is now up 1.75% for the week and 5% on the month.
HP Inc. jumped 6.9% on strong earnings and raised guidance for 2022.
Other big tech stocks also helped lift the market. Nvidia and Netflix shares soared.
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