S&P 500, Nasdaq notch record closes as oil jumps

Energy Shares Gain on Prospects for OPEC Deal

Spurt in oil prices sends US stock indexes to record highs

The S&P 500 index showed 55 new 52-week highs and 12 new lows, while the Nasdaq recorded 104 new highs and 49 new lows.

Utilities, phone companies and real estate companies fell more than the rest of the market, and most industries were lower.

The S&P 500 .SPX was down 0.77 points, or 0.03 percent, at 2,401.55, easing from an all-time high of 2,405.77.

The tech-heavy index has outperformed both the S&P 500 and the Dow Jones Industrial Average in 2017 as investors have piled into the shares of companies thought to benefit from US economic growth. Energy companies across the index rose 0.6 percent.

All the 11 major S&P 500 sectors were higher, with the energy and materials index leading the gainers.

Dow member Home Depot rose 0.6 per cent after reporting an 11 per cent increase in first-quarter profit to US$2.0 billion. The No. 1 US home improvement chain reported a higher-than-expected quarterly profit, sending its shares up 2.1 percent $160.68.

Motorola Moto C and Moto C Plus are now official
The Moto C has a 5-inch display with 854×480 pixel resolution and houses a quad-core 1.1GHz MediaTek MT6737M chipset. Coming to the "E" series, which has a tag of "Unlimited Value" also has two devices, i.e, Moto E and Moto E Plus .

The S&P's financial sector.SPSY ended the day with a 0.2-percent gain. In Asia, Tokyo's Nikkei 225 rose 0.2 percent and Seoul's Kospi added 0.2 percent.

But the tech-heavy Nasdaq hit 6,169.87, after firms such as Etsy made gains.

Housing starts fell 2.6 percent in April to a seasonally adjusted annual rate of 1.17 million units, the Commerce Department reported Tuesday.

Shares in Air Canada finished almost five per cent higher or 80 cents to $16.95, while WestJet Airlines stock gained 2.52 per cent or 55 cents to $22.36. Brent crude, used to price global oils, was down 17 cents at $51.65 a barrel in London. Read Commodities Are Stable, Crude Oil Rose to 3-Week Highs to learn more about movements in oil prices.

Oil futures settled up 2.1% at $US48.85 a barrel.

Oil prices edged up about 0.7 per cent today, prompted by the dollar's decline and the expectation for a supply limit deal to extend into next year.

Pressure turned up in Western Conference Final
Ritchie scored in an 5-4 overtime win against the Flames in the first round and then had the victor in Game 7 against the Oilers . Nashville has a serious challenge now, and adversity has arrived in the form of Ryan Kesler , the Ducks' defense-minded center.

Natural gas fell 8 cents to $3.35 per 1,000 cubic feet, heating oil rose 2 cents to $1.51 per gallon and wholesale gasoline climbed 2 cents to $1.60 per gallon.

MARKETS OVERSEAS: In Europe, Germany's DAX was flat, while France's CAC-40 was down 0.2 percent. USA gold futures gained 0.57 per cent to $1,237.00 an ounce.

The dollar index fell 0.77 per cent, with the euro up 1.06 per cent to $1.1089.

Shares of Alphabet Inc. rose 0.4% after Waymo LLC, the driverless-car division of the Google parent, and ride-hailing startup Lyft Inc. said on Sunday they would work together to develop autonomous vehicle technology.

A spurt in oil prices on helped revive energy stocks, which have been among the year's worst performers, and USA indexes traded at or near record highs.

Bank of England ups inflation forecast and lowers growth
At the same time it cut its forecast for average earnings growth for this year to 2% from 3% pencilled in back in February. Household spending, the economy's main driver, is starting to wilt as inflation pushes past the BoE's 2 percent target.

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