Wall Street closes at record high as Nasdaq crosses 9K for first time

Wall Street closes at record high as Nasdaq crosses 9K for first time
© UPI Photo

U.S. financial markets hit record highs Thursday, with the Nasdaq Composite closing above 9,000 for the first time.

The Nasdaq gained 0.78 percent from the previous trading day, closing at 9,022.39. The Dow Jones Industrial Average rose 0.37 percent, to 28,621.39, and the S&P 500 advanced 0.51 percent to 3,239.91. 

President TrumpDonald John TrumpTrump fires intelligence community inspector general who flagged Ukraine whistleblower complaint Trump organization has laid off over 1000 employees due to pandemic: report Trump invokes Defense Production Act to prevent export of surgical masks, gloves MORE, who has consistently touted the economy's strength as one of his greatest accomplishments, highlighted the Nasdaq news by tweeting an article on it.

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Amazon.com Inc. contributed to the record gains, rising more than 4 percent after it said this year's holiday shopping season was record-breaking, CNBC reported.

The news outlet reported that the S&P 500 is now just 1 percentage point shy of its best yearly performance since 1997, with the index reaching its 34th record high close on Thursday.

Online sales in the U.S. also hit a record high this holiday season, increasing 18.8 percent compared with last year, according to a new report from Mastercard. Overall retail purchases were up 3.4 percent from the same period in 2018.

CNBC noted that stocks often increase this time of year.