Forecasts
Forex Guides
Members

S&P 500 Rallies to Record on Increased Economic Optimism




Play The Top Ten Stocks for May 14 U.S. stocks rose, sending the Standard & Poor’s 500 Index to its eighth record high in the past nine sessions, on increased optimism over growth in the world’s largest economy. Financial shares climbed the most among 10 S&P 500 industry as hedge-fund manager David Tepper called U.S. banks “a good sector.” Bank of America Corp. and Citigroup Inc. rose more than 2.4 percent. Edwards Lifesciences Corp. advanced 6.3 percent after announcing a share buyback program. Apple Inc. slipped 2.4 percent, dragging technology companies to the worst performance among the 10 groups. The S&P 500 increased 1 percent to 1,650.34 at 4 p.m. in New York . The Dow Jones Industrial Average gained 123.57 points, or 0.8 percent, to a record 15,215.25. About 6.2 billion shares changed hands on U.S. exchanges, 1.9 percent below the three-month average. “There’s an encouraging pattern of continued growth in the economic data,” Alan Gayle , a senior strategist at RidgeWorth Capital Management, which oversees about $48 billion of assets, said in a phone interview. “What is helping the market is the belief that downside risks to stocks are limited right now.” Confidence among small businesses climbed in April to a six-month high as the outlook for the economy and sales brightened, the National Federation of Independent Business ’s optimism index showed today. Still Bullish Tepper, co-founder and owner of Appaloosa Management LP, said in an interview on CNBC that he is still bullish and the economy is getting better. Tepper, who led Institutional Investor’s ranking of the top earners in hedge funds last year with $2.2 billion, said in January in a Bloomberg Television interview that the U.S. “is on the verge of an explosion of greatness.” Equity futures slumped earlier as JPMorgan Chase & Co. […]



Invest In Yourself And Get Premium Analysis
Less than 20 cents a day
Major Currency Pairs Analysis
Forex Sentiment Analysis
Understand The Market
10 days money back guarantee

View Subscription Options

Would you like to connect?
Get notifications on new forecasts and articles.

Sign up to our emailing list and get your FREE Stop Losing and Start Winning in Forex Checklist!

Trending Forex Articles

  • S&P 500 Rallies to Record on Increased Economic Optimism
  • EUR/USD Gold CorrelationS&P 500 Rallies to Record on Increased Economic Optimism
  • S&P 500 Rallies to Record on Increased Economic Optimism
  • S&P 500 Rallies to Record on Increased Economic Optimism
  • S&P 500 Rallies to Record on Increased Economic Optimism
  • S&P 500 Rallies to Record on Increased Economic Optimism
TheGeekKnows