December 5, 2013
Wall Street ends at record high after Washington deal
The S&P 500 closed at a record high as investors regained confidence in the market following a last-minute deal to avoid a US default, but weak earnings from IBM (IBM.N) and Goldman Sachs (GS.N) pulled the Dow industrials slightly lower.
The Dow Jones industrial average .DJI was down 3.98 points, or 0.03 percent, at 15,369.85. The Standard & Poor's 500 Index .SPX was up 11.36 points, or 0.66 percent, at 1,732.90. The Nasdaq Composite Index .IXIC was up 23.72 points, or 0.62 percent, at 3,863.15.
European stocks dipped halting a week-long rally, as investors looked beyond Washington's last-minute deal to avert a debt default to focus on corporate news.The FTSEurofirst 300 index of top European shares was down 0.2 percent at 1,263.22 points, after surging 3.4 percent in the past week on expectations the US Congress would reach a deal before the Oct. 17 deadline.
Meanwhile, Japan's Nikkei share average hit a three-week high and extended gains into a seventh day as sentiment was buoyed after the US Congress approved a last-minute deal to end a fiscal standoff and avoid a damaging default on government debt.
The Nikkei gained 0.8 percent to 14,586.51 after hitting 14,664.22 earlier, its highest since Sept. 27. The Topix advanced 0.8 percent to 1,206.25.