Stocks Close Higher as S&P Sets New Record

Stocks closed on a high note Wednesday, marking the fourth consecutive trading day of rising values as the S&P 500 beat its all-time high.

The Dow Jones Industrial Average closed at 16,573.00 for a gain of 40.39 points, or 0.24%. The Nasdaq rose 8.42 points, or 0.20%, to 4,276.46. The the S&P 500 gained 5.38 points, or 0.29%, to finish at a record-busting 1,890.90.

The Dow closed just 10 points shy of its own record high.

Uri Landesman, president of Platinum Management, tossed a bit of water on the fire by cautioning that the market won’t perform so well forever.

“I expect a sharp short-term correction and something’s going to trigger that,” Landesman told CNBC. “The law of large numbers suggests something’s going to go wrong at some point.”

[CNBC]