New York: The Standard & Poor’s 500 index crossed above 1,900 for the first time today as investors assessed news on retail sales.
DirecTV gained on reports that the AT&T is poised to buy the company for nearly USD 50 billion.
The Standard & Poor’s 500 index rose four points, or 0.2 per cent, to 1,900 as of 9:50 a.m. Eastern. The Dow Jones industrial average rose 30 points, or 0.1 per cent, to 16,725. The Nasdaq composite gained five points, or 0.1 per cent, to 4,146.
The S&P 500 and Dow both closed at record levels yesterday as investors regained their appetite for riskier stocks.
Stocks such as Twitter and Facebook, which had plunged in March and April, were among the big gainers. The Russell 2000, an index made up of small companies, climbed the most in two months.
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