Led by Tech Stocks, S&P 500 Reaches New High
Technology companies led the stock market higher Monday, pushing the Standard & Poor's 500 index above the all-time closing high it reached earlier this month.
Technology companies led the stock market higher Monday, pushing the Standard & Poor's 500 index above the all-time closing high it reached earlier this month.
The Standard & Poor's 500 index closed within a point of its all-time high after another strong report on housing encouraged investors to buy stocks.
The Dow stock market index closed above 14,000 for the first time since before the financial crisis rocked the world economy. Propelled by strong auto sales and optimism about U.S. jobs, the Dow Jones industrial average crossed the line early Friday and continued flirting with the mark all day.
Evidence that the U.S. economic recovery is firmly on track drove markets higher on Friday, adding to the cheer from good economic indicators out of Europe. The Dow traded momentarily above 14,000 for the first time since October 2007.
U.S. stocks are flirting with all-time highs, climbing to heights not seen since before the financial crisis. Both the Dow and the S&P 500 have risen to their highest levels since October 2007. But stock prices cannot go up forever, and some analysts warn that the bull market is nearing an end, just as investors are returning.
Pfizer helped keep the stock market rally alive Tuesday. The drugmaker's stock gained after posting strong earnings, pushing the Dow closer to 14,000. The Standard and Poor's 500 also rose, adding eight points to 1,507.84 points. The Nasdaq composite dropped less than a point to 3,153.66.
World stock markets were mostly higher on Tuesday and the dollar fell to a 14-month low against the euro as the Federal Reserve began a two-day policy meeting in which it is expected to maintain its easy monetary policy.
With a disappointing finish on Thursday, the stock market closed what was by some measures its worst month in two years. Over five dismal weeks, Facebook fizzled, a debt crisis in Europe loomed, and nobody was in the mood to buy.
This week, the S&P 500 hit the same level that it did exactly three years earlier -- down to the last two decimal places. What can this fact tell us about the last three years of market history, and what lessons might be gleaned for investors?
The final quarter of 2011 promises to be just as exciting -- and frustrating -- as the first nine months of the year have been for Wall Street. This analyst is unafraid to go out on a limb and make a few bold calls, so let's go over four of the biggest developments that will play out over the next three months.
Given the market's extreme and distressing gyrations over the past week, you'd be forgiven for thinking corporate earnings had been, on the whole, disappointing. But that's not actually the case: A large majority of public companies have performed quite well.
A bruising session on Wall Street Thursday wiped more than 500 points off the Dow - its worst drop since October 2008. Driving the fear is growing concern about the possibility of another recession. Will the selloff continue Friday? It all depends on the Labor Department's employment report.











