US stocks reach new records, Obama hits broadband firms

GMT 23:01 2014 Monday ,10 November

Arab Today, arab today US stocks reach new records, Obama hits broadband firms

Wall Street shares open largely flat after hitting new records
New York - AFP

US stock markets soared to fresh records Monday but Internet broadband carriers were hit hard by President Barack Obama's call for tough net neutrality rules.
For the third straight session, the Dow Jones Industrial Average broke its all-time closing record, gaining 39.81 points (0.23 percent) at 17,613.74.
The S&P 500 added 6.34 (0.31 percent) at 2,038.26, while the Nasdaq Composite rose 19.08 (0.41 percent) to 4,651.62.
Obama's statement against allowing large Internet service providers to discriminate between customers on Internet access and speeds was seen as a blow to an industry expecting to earn more by offering better broadband service and performance to preferred customers.
Comcast fell 4.0 percent, Time Warner Cable lost 4.9 percent, Charter Communications lost 6.2 percent, and Verizon fell 0.3 percent.

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