S&P 500 at new high as US stocks gain

GMT 21:56 2014 Monday ,22 December

Arab Today, arab today S&P 500 at new high as US stocks gain

US stocks
New York - AFP

The S&P 500 stock index rose to fresh records on Monday, another positive day for global equity markets still cheered by last week's US Federal Reserve meeting.
At the closing bell, the broad-based S&P 500 stood at 2,078.76, up 8.11 points (0.39 percent), about three points above the previous high December 5.
The Dow Jones Industrial Average gained 157.98 (0.89 percent) to 17,962.78, just above its prior record, while the tech-rich Nasdaq Composite Index jumped 16.04 (0.34 percent) to 4,781.42.
US stocks have been on a tear since the Fed last Wednesday kept interest rates low and signalled it would not change course until at least the second half of next year.
European and Asian markets also rose Monday, generating talk of a "Santa Claus rally."
"There's still a buying mood, a feel that central banks are going to keep being supportive, and the news on the US economy keeps getting better," said Alan Skrainka, chief investment officer at Cornerstone Wealth Management.


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