Dow marks the second highest level of all time, but technology stocks are weighing on the market

The Dow Jones Industrial Average

DJIA, + 0.32%

recorded its second consecutive consecutive record, but declines in consumer discretionary shares and technology weighed on the broader market. The Dow closed up 0.2% to 26,719 (on a preliminary basis). while the S & P 500 index

SPX, -0.04%

down by less than 0.1% to finish at 2,929, and the Nasdaq composite technology-driven

COMP -0.51%

down 0.5% to 7,986, contributing to a weekly decline in the index of 0.3%. Meanwhile, the Dow Jones index posted a weekly gain of 2.2%, representing its best weekly percentage increase since July, while the S & P 500 index recorded a weekly rise of 0 , 8%. Investors have for the most part ignored the lingering evidence of escalating tensions between the US and China, among other things, in trade policy. President Donald Trump has announced nearly $ 500 billion in tariffs on Chinese products this week; China responded with clean measures and said it would introduce more measures if US tariffs came into effect. Nevertheless, the week proved to be a banner for the S & P 500 and Dow over a month supposedly traditionally weaker. The S & P 500 and the Dow are expected to record significant monthly gains, while the Nasdaq is expected to decline 1.5% in September. In corporate news, the shares of the very large-cap companies Apple Inc.

AAPL, -1.08%

Facebook Inc.

FB -1.86%

and Amazon.com Inc.

AMZN, -1.51%

]and Google-parent Alphabet Inc.

GOOGL, -1.63%

GOOG, -1.75%

All fell sharply, weighing on the Nasdaq and S & P. ​​Meanwhile, the shares of Micron Technology Inc.

MU, -2.87%

sank one day after posting solid quarterly results, although it did not meet expectations.

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