Dow closes at another record high on a day dominated by Alibaba

September 19, 2014, 9:24 PM UTC
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The Dow Jones industrial average closed at yet another record high on Friday, a day dominated by Chinese e-commerce giant Alibaba’s making a blockbuster showing on its first day of trading.

The Dow closed up 13.75 points, or 0.1%, at 17,279.7. It was the index’s eighteenth high of the year and the third day in a row that it finished in record territory. On Friday morning, the Dow reached an intraday record of 17,350.64.

Meanwhile, the S&P 500 index turned negative over the last minutes of trading to finish down 1 point at 2010.40, Earlier in the day, it had set an all-time high of 2019.26.

The NASDAQ composite index, meanwhile, ended down 13.63 points, or 0.3%, to close at 4579.79.

Adding to the record-setting Friday, Alibaba’s shares finished up 38% at 93.89 after making their splashy debut in the morning following the biggest U.S. initial public offering of all time. It shares were priced at $68 in the IPO on Thursday evening.

Scottish voters’ rejection of the independence referendum and a split from the U.K. helped to lift the Dow on Friday, along with the Fed’s announcement earlier in the week that interest rates would not be raised for a “considerable time.”

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