Dow hits record during Comey testimony, but ends day off the highs

Wall Street
U.S. equities closed mostly higher on Thursday as Wall Street digested former FBI Director James Comey’s testimony.

The S&P 500 ended marginally higher after nearly hitting a record high of 2,440.23, with utilities leading decliners while a rise in bank stocks capped losses. Bank stocks, some of the early beneficiaries from Trump’s election, rose on Thursday, with the SPDR S&P Bank ETF (KBE) jumping more than 2.5 percent. Investors in the space also kept an eye on the House as they prepared to vote on the Financial Choice Act.

The Dow Jones industrial average finished just 8 points higher for the day with Goldman Sachs contributing the most to gains. The average hit an intraday record, soaring more than 80 points midday, following the Comey comments, but gave up most of that increase by the close.

The Nasdaq composite advanced 0.4 percent and managed intraday and closing record highs.

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