Share

Dow, S&P 500 close at records

New York - The Dow and S&P 500 notched fresh records Thursday on strong US economic data and a jump in oil company shares thanks to rebounding crude prices.

The Dow Jones Industrial Average rose 33.27 points (0.19%) to 17 719.00, besting the prior mark by more than 30 points.

The broad-based S&P 500 gained 4.03 (0.20%) to 2 052.75, also a new peak, while the tech-rich Nasdaq Composite Index rose 26.16 (0.56%) to 4 701.87.

A regional manufacturing index from the Federal Reserve Bank of Philadelphia surged unexpectedly, while the Conference Board's Leading Economic Index, an amalgamation of several key economic indicators, also improved.

US existing-home sales gained in October for the second straight month.

Oil stocks including Apache (+3.0%) and ConocoPhillips (+1.5%) rose as US oil prices advanced.

Dow component Intel bolted 4.7% higher as it raised its annual dividend by six cents to 96 cents per share. The chipmaker also forecast 2015 revenue growth in the mid-single digits.

Online game developer Activision Blizzard shot up 7.9% after it said lifetime sales of the popular "Call of Duty" game rose above $10 billion following its latest launch.

Best Buy surged 7.0% as third-quarter earnings came in at 32c/share, 7c above analyst expectations. The electronics retailer pointed to "encouraging" trends as it enters the key holiday-shopping season, but warned that the environment remains highly competitive.

Kitchen equipment retailer Williams-Sonoma soared 8.4% as fourth-quarter net income rose 14.4% to $64.9m behind strong gains in online sales.

Dollar Tree advanced 5.2% after reporting third-quarter same-store growth of 5.9%, its highest level since 2011.

Salesforce, a provider of cloud computing services to businesses, fell 4.5% after projecting revenues of $6.45bn to $6.50bn in the coming fiscal year, below the market's forecast for $6.66bn.

Speciality coffee company Keurig Green Mountain dropped 7.4% following news that Frances Rathke would step down as chief financial officer in fiscal 2015 and shift into a strategic advisory role at the company. Keurig Green Mountain has hired an executive search firm to find a replacement.

Bond prices rose. The yield on the 10-year US Treasury fell to 2.34% from 2.35% on Wednesday, while the 30-year declined to 3.05% from 3.07%.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Voting Booth
Now that e-tolls gantries have been switched off, will you be settling your outstanding debt?
Please select an option Oops! Something went wrong, please try again later.
Results
No way, they're not getting a cent from me
88% - 1773 votes
Yes, I guess it's the right thing to do
4% - 75 votes
Mmh, I'm watching legal cases and playing it by ear
8% - 168 votes
Vote
Rand - Dollar
19.01
+0.2%
Rand - Pound
23.68
-0.1%
Rand - Euro
20.29
-0.4%
Rand - Aus dollar
12.24
-0.4%
Rand - Yen
0.12
-0.1%
Platinum
952.30
-2.4%
Palladium
1,036.00
+1.3%
Gold
2,371.75
-0.5%
Silver
28.27
+0.6%
Brent Crude
90.02
-0.1%
Top 40
66,899
0.0%
All Share
72,995
-0.0%
Resource 10
63,378
+2.8%
Industrial 25
97,824
-0.5%
Financial 15
15,384
-1.7%
All JSE data delayed by at least 15 minutes Iress logo
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE