The US stock market strengthened slightly on Thursday

Shares of banks and energy companies weakened, which dampened overall market growth.

The US stock market closed slightly higher on Thursday. The S&P 500 rose to a new high as it was supported by large technology companies benefiting from declining government bond yields. Yields, which have been growing steadily, have fallen from highs earlier this month. However, shares of banks and energy companies weakened, which dampened overall market growth. The increase in the number of Americans applying for state unemployment benefits has also hampered their willingness to buy shares. The S&P 500 index strengthened by 0.4 percent to 4,097.17 points. The Dow Jones industrial index rose 0.2 percent to 33,503.57 points and the technology Nasdaq improved 1 percent to 13,829.31 points. Shares of smaller companies, which are doing more well than the rest of the market this year, also performed well on Thursday. The Russell 2000 Index gained 0.9 percent and closed at 2,242.60 points. Since the beginning of this year, Russell 2000 has gained 13.6 percent. Most Asian stock markets weakened on Friday after China reported that consumer prices in the country had risen more than expected. The engine of the overall rise in prices was the rise in fuel prices, which could, however, lead the authorities to take steps to mitigate inflation. The Shanghai Composite China index fell 0.9 percent and the Hong Kong Hang Seng index fell 1.2 percent. However, the main Japanese index Nikkei 225 strengthened by 0.2 percent to 29,768.06 points.