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S&P 500 and other major indices close at record high

17 September 2017

Lyxor UCITS ETF Dow Jones Industrial Average D-EUR (DJEL.L) shares opened the last session at 16541.00, touching a high of 16541.00 and a low of 16541.00, yielding a change of -189.00.

Economic data was nearly uniformly weak on Friday, mainly as a result of hurricane Harvey's impact, save for the so-called Empire State manufacturing index for September which slipped by just 0.8 points to 24.4, denoting confidence in the sector's outlook, according to analysts. Preliminary data showed volume rose sharply on both the Nasdaq and the NYSE exchanges.

U.S. stocks opened mixed, with the S&P lower and the Dow Jones heading for higher ground, shrugging off concerns about North Korea's latest missile test. The market remains in a firm uptrend despite underlying concerns of overvaluation.

Friday's calendar includes data on retail sales, industrial production, business inventories and consumer sentiment, followed by the Baker Hughes rig count later in the afternoon.

"Retail sales numbers from the United States are pretty disappointing".

Led by gains in the price of gas, housing and auto insurance, consumer prices increased 0.4% in August, beating estimates for a 0.3% increase. It later settled at $49.95 a barrel for a gain of 0.1%.

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Reports say that the UNCLOS was mentioned atleast four time in the 2016 joint statement between the two countries. Reacting to it, Chinese Foreign Ministry spokesperson Hua Hunyin had said, "You also mentioned Act East policy.

The strength in chip makers offset weakness in Oracle Corp.(ORCL), which fell 7.7% after the software giant's outlook late Thursday came in below Wall Street's expectations.

Advancing issues outnumbered decliners on the NYSE by 1,424 to 1,074.

The former saw its price target slashed to US$53 from US$61 and the latter from US$84 to US$68.

Economists had expected retail sales to inch up by 0.1 percent compared to the 0.6 percent increase originally reported for the previous month.

The Bloomberg Dollar Spot Index fell 0.2 percent.The euro climbed 0.2 percent to $1.1941.The British pound gained 1.3 percent to $1.3568, the strongest in nearly 15 months. The Federal Reserve said the decline was mostly due to the recent impact of Hurricane Harvey. European stocks finished down across the board, while the pound hit a fresh 2017 high against the buck, trading above the $1.36 mark following another hawkish signal from the Bank of England.

The US$226mln-valued company'sstock rose 3.5% on the news.

S&P 500 and other major indices close at record high