S&P closes at record high for 5th day; Dow ends above 15K for 2nd day
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S&P closes at record high for 5th day; Dow ends above 15K for 2nd day

Last Updated: Thursday, May 9, 2013, 10:47
 
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S&P closes at record high for 5th day;  Dow ends above 15K for 2nd day
Zee Media Bureau

New Delhi: US stocks continued their rally Wednesday, supported by strong economic data from Germany and China.

While S&P 500 closed at an all-time high for a fifth day, Dow ended at a record high for a second straight day, pushing further above 15,000.

The Dow Jones Industrial Average rallied 48.92 points or 0.32 percent to 15,105.12.

The broad-based S&P 500 advanced 6.73 points or 0.41 percent to 1,632.69. The Nasdaq Composite Index posted 16.64 points or 0.49 percent to 3,413.27.

Financials, materials and technology sectors were among the strongest performers, with shares of International Business Machines leading the Dow higher. IBM's stock rose 1.1 percent to USD 204.82.

Among the S&P 500's biggest percentage gainers was Whole Foods Market Inc, whose shares jumped 10.1 percent to USD 102.19 a day after it reported a rebound in same-store sales and raised its full-year profit view.

Apple shares finished the day up 1.1 percent at USD 463.84 after falling in the previous session.

While volume has been below average all week, the three major US stock indexes have ended sessions higher than where they began, suggesting momentum will continue.

Solid corporate earnings along with continued accommodative monetary policies have supported the market's climb, which had been led by mostly defensive sectors. The recent rally, though, appears to reflect a shift to growth-oriented sectors leading the advance.

After the bell, shares of Groupon jumped 11.5 percent to USD 6.23 after the world's largest daily deal company reported a stronger-than-expected quarterly profit.

Shares of New Corp rose 3.6 percent to USD 33 in after-hours trading following the release of the last quarterly results for Rupert Murdoch's company before its entertainment and publishing businesses are separated.

During the session, the Dow also reached an all-time intraday high of 15,106.81 and the S&P 500 set a record intraday high of 1,632.78.

The S&P 500 has climbed 14.5 percent so far this year, while the Dow has advanced 15.3 percent and the Nasdaq has gained 13 percent.

With Agency Inputs




First Published: Thursday, May 9, 2013, 09:20


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