News Column

Wall Street creeps up to record high

June 11, 2014



WALL Street ended on a new record high yesterday in quiet trading as other market benchmarks posted a mixed performance.


Dow Jones ended up 2.82 points, or less than 0.1 per cent, to 16945.92. The Dow hovered just below the flat line for most of the session before nudging into positive territory just ahead of the closing bell. That extended the Dow's streak of record-high closes to four sessions, the longest such streak of the year.


The S&P 500 index inched lower by 0.48 of a point, or less than 0.1 per cent, to 1950.79, snapping a four-session streak of record closes. The Nasdaq Composite Index was up 1.75 points, or less than 0.1 per cent, to 4338.


Technology and internet stocks, marked by hyper levels of growth and concerns about valuation, ranked among the day's biggest performers, with a number of big names also up for the day.


Facebook rose 4.3 per cent to $65.59, while Netflix gained 1.4 per cent to $429.11.


But shares in eBay fell 2.2 per cent to $48.51 after news late on Monday that David Marcus, who has led eBay's fast-growing payments unit PayPal for the past two years, will step down this month to run Facebook's messaging products.


RadioShack slid 12.3 per cent to $1.35 after the US-based electronics retailer reported a much wider-than-expected quarterly loss.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: City A.M. (UK)


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