Stocks rally; Dow, S&P 500 end at records

23.12.2014 00:12

COMMENTSAmerican Apparel jumped after the retailer said it would evaluate a proposal to acquire the company for $1.30 to $1.40 a share.

Benchmarks have surged since the Federal Reserve promised to be patient in looking to increase interest rates in the new year.


DJIA Dow Jones Industrial Average 17959.44   154.64 0.87%
S&P 500 S&P 500 Index 2078.54   7.89 0.38%
NASDAQ Nasdaq Composite Index 4781.42   16.04 0.34%


Rising for a fourth session to end at a record, the Dow Jones Industrial Average climbed 154.64 points, or 0.9 percent, to 17,959.44, with Intel leading blue-chip gains that included 27 of 30 components.

Recording its 50th record close for 2014, the S&P 500 gained 7.89 points, or 0.4 percent, to 2,078.54, with technology the best performing and health care hardest hit among its 10 major industry groups.

The Nasdaq gained 16.04 points, or 0.3 percent, to 4,781.42.

Trading volume was light ahead of the Christmas holiday on Thursday.

For every two shares sliding, three rose on the New York Stock Exchange, where nearly 791 million shares traded. Composite volume surpassed 3.3 billion.

The U.S. dollar fell against the currencies of major U.S. trading partners; the yield on the 10-year Treasury note used to figure mortgage rates and other consumer loans fell a basis point to 2.1567 percent.

Crude-oil futures for February delivery dropped $1.87, or 3.3 percent, to $55.26 a barrel; the February gold contract shed $16.20, or 1.4 percent, to $1,179.80 an ounce on the New York Mercantile Exchange.


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