U.S. stocks closed at record highs on Thursday after Federal Reserve
Chairman Ben Bernanke said late Wednesday that stimulus tools will
remain in place for the foreseeable future.
Stimulus programs such as the Fed's monthly USD85 billion bond-buying program push up stocks by keeping interest rates low.
At the close of U.S. trading, the Dow Jones Industrial Average finished up 1.11% at a record-high 15,460.92, the S&P 500 index ended up 1.36% at a record-high 1,675.02, while the Nasdaq Composite index rose 1.63% to 3,578.30, its best showing since 2000.
Fed Chairman Ben Bernanke said Wednesday evening that economic data suggest that the U.S. economy still requires highly accommodative monetary policies.
Bernanke made his comments just hours after the release of the minutes from the Fed's June monetary policy meeting, which revealed other U.S. central bankers felt likewise.
Data released Thursday dampened expectations for an imminent end to monetary stimulus programs as well, which sent stock prices rising further.
The number of individuals filing for initial jobless claims in the U.S. hit a two-month high last week, rising by 16,000 to 360,000, according to the Labor Department, defying expectations for a drop of 4,000 to 340,000.
A separate report showed that U.S. import prices fell 0.2% on a yearly basis in June, above expectations for a 0.1% decline, while exports prices rose 0.2% year-over-year, undershooting expectations for a 0.4% rise.
Fed language and soft jobs numbers sent stocks soaring by sparking fresh speculation that the U.S. central bank will continue pumping liquidity into the economy via asset purchases, a recipe for climbing stock prices.
Leading Dow Jones Industrial Average performers included Intel, up 3.18%, Microsoft, up 2.94%, and Walt Disney, up 2.65%.
The Dow Jones Industrial Average's worst performers included IBM, up 0.24%, Johnson & Johnson, up 0.53%, and Exxon, up 0.55%.
European indices, meanwhile, finished higher.
After the close of European trade, the EURO STOXX 50 rose 0.81%, France's CAC 40 rose 0.74%, while Germany's DAX 30 finished up 1.14%. Meanwhile, in the U.K. the FTSE 100 finished up 0.59%.
On Friday, the U.S. is to release the weekly government report on initial jobless claims, a leading economic indicator, as well as official data on import prices.
Dow Has made an all time new high and a rounding bottom implying the rally shall continue in dow and all emerging markets . Its best to swim with the tide ......so currently buy and hold if deep in profits then book some profits "
Source : Investing .com
Stimulus programs such as the Fed's monthly USD85 billion bond-buying program push up stocks by keeping interest rates low.
At the close of U.S. trading, the Dow Jones Industrial Average finished up 1.11% at a record-high 15,460.92, the S&P 500 index ended up 1.36% at a record-high 1,675.02, while the Nasdaq Composite index rose 1.63% to 3,578.30, its best showing since 2000.
Fed Chairman Ben Bernanke said Wednesday evening that economic data suggest that the U.S. economy still requires highly accommodative monetary policies.
Bernanke made his comments just hours after the release of the minutes from the Fed's June monetary policy meeting, which revealed other U.S. central bankers felt likewise.
Data released Thursday dampened expectations for an imminent end to monetary stimulus programs as well, which sent stock prices rising further.
The number of individuals filing for initial jobless claims in the U.S. hit a two-month high last week, rising by 16,000 to 360,000, according to the Labor Department, defying expectations for a drop of 4,000 to 340,000.
A separate report showed that U.S. import prices fell 0.2% on a yearly basis in June, above expectations for a 0.1% decline, while exports prices rose 0.2% year-over-year, undershooting expectations for a 0.4% rise.
Fed language and soft jobs numbers sent stocks soaring by sparking fresh speculation that the U.S. central bank will continue pumping liquidity into the economy via asset purchases, a recipe for climbing stock prices.
Leading Dow Jones Industrial Average performers included Intel, up 3.18%, Microsoft, up 2.94%, and Walt Disney, up 2.65%.
The Dow Jones Industrial Average's worst performers included IBM, up 0.24%, Johnson & Johnson, up 0.53%, and Exxon, up 0.55%.
European indices, meanwhile, finished higher.
After the close of European trade, the EURO STOXX 50 rose 0.81%, France's CAC 40 rose 0.74%, while Germany's DAX 30 finished up 1.14%. Meanwhile, in the U.K. the FTSE 100 finished up 0.59%.
On Friday, the U.S. is to release the weekly government report on initial jobless claims, a leading economic indicator, as well as official data on import prices.
Dow Has made an all time new high and a rounding bottom implying the rally shall continue in dow and all emerging markets . Its best to swim with the tide ......so currently buy and hold if deep in profits then book some profits "
Source : Investing .com
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