Saturday, 24 May 2014

S&P 500 closes above 1,900 for first time

There are alot of excitement in US stock market but the same cannot be said for Malaysia stock market.

The S&P 500 index topped a fresh milestone on Friday 23.5.2014, closing 1900.53 points, above the 1,900 level for the first time as the aging bull charges into its fifth year. The DJIA, meanwhile, continued its trek toward the 17,000 mark. The DJIA climbed 63.19 points to close at 16,606.27. The Nasdaq rose 31.47 points to close at 4,185.81.

The S&P 500 has gained 180 percent since bottoming out in March 2009. Stocks are now in the second-longest bull market since 1946. The index has also gone 2 and half  years without a correction. Typically those declines occur once every 18 months.


In the first quarter of this year companies in the S&P 500 earned an average of $27.59 a share, the second-highest level recorded, falling just below the $28.46 per share earned in the fourth quarter of 2013.


The stock market's rise has also been supported by the Federal Reserve's policy. Although policy makers are winding down the stimulus, many economists don't think that the Fed will start raising interest rates before the second half of next year.


Meanwhile, Google is doing relatively well for the past one week.

Its price closed at USD552.70 0n 23.5.2014.


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