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S&P Closes Over 1,400 for First Time in 3 Months

by The Associated Press Aug 7th 2012 12:02PM
Updated Aug 7th 2012 5:06PM
Stock Market
By PALLAVI GOGOI

NEW YORK (AP) - It's been a day of milestones for the stock market.

Stronger corporate earnings reports and expectations that central banks will act to support the economy powered the Standard & Poor's 500 index past 1,400 for the first time in three months. The index rose 7 points to close at 1,401.

The Nasdaq composite index marked a milestone of its own: the first close above 3,000 since early May. The Nasdaq rose 26 points to 3,015.

The Dow Jones industrial average rose 51 points to 13,168.

Of the 407 companies in S&P 500 that have reported earnings, 65 percent beat expectations, according to S&P Capital IQ.

Two stocks rose for every one that fell on the New York Stock Exchange. Volume was about average at 3.6 billion shares.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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21 Comments

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groman00

and btw this article is a pleasure to read

April 05 2013 at 2:51 PM Report abuse rate up rate down Reply
groman00

good stuff

April 05 2013 at 2:45 PM Report abuse rate up rate down Reply
groman00

Yes

April 05 2013 at 2:34 PM Report abuse rate up rate down Reply
john.piretti

Is it good or bad that the stock market has done well lately? I can't seem to keep straight if the country is supposed to still feel like they're nothing but greedy crooks on Wall Street or if we're supposed to pretend that the crooks are all gone and only the middle class are investing these days.

August 08 2012 at 8:30 AM Report abuse rate up rate down Reply
maa2626

ah, yes oh by the grace of god we go.

August 08 2012 at 8:01 AM Report abuse rate up rate down Reply
lovbuton

Good corp. earnings, no hiring? Wonder where these earnings go?

August 07 2012 at 9:26 PM Report abuse rate up rate down Reply
kafienkarl

S&P closes higher must be Obama's fault everything else is. It's not the republican house majority oh no of course not. pathetic

August 07 2012 at 9:17 PM Report abuse +2 rate up rate down Reply
PBanks

The only good corporates earnings you can look at, is the food corporation- people in the this economy is the main thing people have buy. The banks got free money from the federal bank. The profits are from the company's layoffs from the last the three years. Many companies are including their profits from the sales they have done in Europe. The traders made their pay day, and eventually they will have to put the real numbers into the system, balance the books. It's a game of ownership and getting the sockholders money into their pockets.

August 07 2012 at 8:24 PM Report abuse -1 rate up rate down Reply
shurtcircuit

Even though the stock market seems to be good the rest of America is not. Technically 5 to 6 thousand of those points are government supported. WHERE is the support for the American People?

August 07 2012 at 8:20 PM Report abuse -1 rate up rate down Reply
dajt666

as one who cannot afford to invest in the markets how can my income grow? there are many more i know who cannot invest in the markets too.

August 07 2012 at 8:02 PM Report abuse -1 rate up rate down Reply