Home / Business / S&P 500 ticks adult to record on executive bank bets

S&P 500 ticks adult to record on executive bank bets


NEW YORK (Reuters) – U.S. bonds rose on Monday on hopes that China will take serve accommodative financial process movement if needed, while partnership deals kept traders focused even as volumes were next average.

Energy shares weighed, with declines in Exxon and Chevron gripping a Dow industrials prosaic while a SP 500 appetite zone was down 1 percent. U.S. wanton and Brent fell forward of an OPEC assembly this week.

Also weighing on a Dow, United Technologies Corp fell 1.4 percent to $108.79. Chief Executive Officer Louis Chenevert late and is being transposed by a company’s financial arch in an sudden change.

Helping bullish view was expectancy executive banks will continue to boost equities. Following final week’s warn rate cut, China’s care and executive bank are prepared to cut seductiveness rates again and to disencumber lending restrictions.

“You tend not to cut rates once, it doesn’t occur in a vacuum. This could be a initial in a series. The doubt is, how most they are going to have to do before it works,” pronounced Brian Battle, executive of trade during Performance Trust Capital Partners in Chicago.

He pronounced a marketplace could continue to deposit upwards.

“There’s going to be an incentive to buy here during a finish of a entertain and a year.”

The Dow Jones industrial normal rose 7.84 points, or 0.04 percent, to 17,817.9, a SP 500 gained 5.91 points, or 0.29 percent, to 2,069.41 and a Nasdaq Composite combined 41.92 points, or 0.89 percent, to 4,754.89.

The Dow and SP 500 sealed during record highs.

Volume was low, with about 5.6 billion shares changing hands on U.S. exchanges, next a 6.4 billion normal this month, according to BATS Global Markets.

The U.S. marketplace will tighten on Thursday for a Thanksgiving holiday and Friday will be a half-day session.

The weakest SP 500 attention organisation was telecoms, down 1.5 percent. ATT fell 1.6 percent to $34.70 while Verizon mislaid 1.4 percent during $49.50 after Citigroup downgraded a batch to “neutral.”

Apple shares, adult 1.9 percent to $118.63, led a outperforming Nasdaq. The association was within 1 percent of reaching a $700 billion marketplace capitalization.

RenaissanceRe Holdings Ltd concluded to buy Platinum Underwriters Holdings Ltd for $1.9 billion. Platinum sealed adult 21.1 percent during $74.19.

NYSE advancers outnumbered decliners 1,899 to 1,149, for a 1.65-to-1 ratio; on a Nasdaq, 1,934 issues rose and 791 fell for a 2.45-to-1 ratio.

The SP 500 posted 74 new 52-week highs and no new lows; a Nasdaq Composite available 112 new highs and 51 new lows.

(Reporting by Rodrigo Campos; Editing by Nick Zieminski)

Article source: http://in.reuters.com/article/2014/11/24/us-markets-stocks-idINKCN0J80YK20141124

Scroll To Top