News Column

Bulls keep on running in US

February 19, 2014

THE S&P 500 and Nasdaq rose yesterday, following Wall Street's biggest weekly gain of the year, as merger activity increased confidence that there is value in the stock market even as the benchmark index nears a record high.

The Nasdaq Composite rose for an eighth straight session, a streak not seen since early July. Economic reports were disappointing, but following a recent pattern, soft data was mostly dismissed by the market and blamed on the weather.

The Dow Jones industrial average fell 23.99 points or 0.15 per cent, to end at 16,130.40. The S&P 500 gained 2.13 points or 0.12 per cent, to finish at 1,840.76. The Nasdaq Composite added 28.758 points or 0.68 per cent, to close at 4,272.783.

The S&P 500 closed 0.4 per cent below its record close hit on 15 January. The small-cap Russell 2000 outperformed the overall market with a 1.1 per cent gain for the day.

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Source: City A.M. (UK)

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