News Column

US investors remain upbeat

February 14, 2014

US STOCKS closed higher yesterday, with the Nasdaq rising for a sixth straight day, as investors looked past disappointing data on consumer spending, chalking the weakness up to weather instead of weaker fundamentals.

The Nasdaq is up about 5.7 per cent over the past six sessions, its best six-day advance since December 2011. Both the Dow and S&P 500 rose for the fifth session out of the last six. Initial claims for state unemployment benefits unexpectedly rose last week while January retail sales fell and December retail sales were revised lower.

Dow component Cisco fell 2.5 per cent to $22.27. The Dow Jones industrial average was up 63.65 points, or 0.40 per cent, at 16,027.59. The S&P 500 Index was up 10.57 points, or 0.58 per cent, at 1,829.83. The Nasdaq Composite Index was up 39.38 points, or 0.94 per cent, at 4,240.67.

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Source: City A.M. (UK)

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