Dow has first close above 27,000 points

By  | 

NEW YORK (AP) The Dow Jones Industrial Average climbed above 27,000 Thursday for the first time after a turbulent day on Wall Street.

The S&P 500 also hit a closing high milestone of its own Thursday, a day after its first move above 3,000.

Steep losses in drugmakers and real estate companies were offset by gains for banks and technology companies.

Nvidia climbed 3.9 percent and Goldman Sachs rose 2.6 percent.

Pharmaceutical makers dropped after the White House scrapped a plan to overhaul a system of rebates those companies pay to insurers and distributors.

Bond yields spiked following weak demand at an auction for 30-year Treasurys.

The S&P 500 rose 6 points, or 0.2 percent, to 2,999.

The Dow rose 227 points, or 0.8 percent, to 27,088.

The Nasdaq fell 6 points, or 0.1 percent, to 8,196.