The Nasdaq Composite Index on Thursday logged its first all-time high since July. The technology-laden gauge closed up 1% at 6,428.66, a fresh closing record and its first since July 26, according to FactSet data. Gains in the Nasdaq were supported by a rally in the biotech sector. A popular measure of that sector, iShares Nasdaq Biotechnology ETF IBB, +2.78% closed up 2.8% on Thursday, contributing to a 7.2% rally for the week. The IBB has climbed 4.5% in August. The overall market ended higher, with the S&P 500 index SPX, +0.57% and the Dow Jones Industrial Average DJIA, +0.25% booking their fifth straight monthly gain in a row. The S&P 500 closed the session up 0.6% at 2,471, while the Dow ended up 0.3% at 21,948. For the month, the S&P 500 closed up less than 0.1%, while the Dow ended the period 0.3% higher.
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