NASDAQ, S&P 500 end at records after upbeat market surveys

The S&P 500 and NASDAQ Composite Index closed at record highs, as statistics pointed to some pockets of strength in the US economy.

According to IHS Markit surveys, US companies in both manufacturing as well as service sectors witnessed a resurgence in new orders.

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Another report showed home sales in the US increased at a record pace in July and home prices hit record highs.

The Dow Jones Industrial Average DJIA rose 0.7% to close at 27,930.33, while the S&P 500 SPX closed at 3,397.16. The Nasdaq Composite Index COMP also closed at a fresh high of 11,311.80, up 46.85 points or 0.4%.