December 20, 2013
Global stocks end at record high on high earnings
The S&P 500 closed at a record high for the second consecutive day as positive earnings from Google (GOOG.O), Morgan Stanley (MS.N) and others lifted investor sentiment.
The Dow Jones industrial average .DJI was up 24.98 points, or 0.16 percent, at 15,396.63, according to the latest available data. The Standard & Poor's 500 Index .SPX was up 11.23 points, or 0.65 percent, at 1,744.38. The Nasdaq Composite Index .IXIC was up 51.13 points, or 1.32 percent, at 3,914.28.An acceleration in China's giant economy provided a further boost for equity markets, as well as for commodities such as oil and copper, as the prospect of an extended spell of ultra-easy money policy and improving growth buoyed investor sentiment.
MSCI's index that tracks the performance of 45 countries rose 0.59 percent to highs last seen in May 2008, while a European index, the Stoxx Europe 600 gained for a seventh successive day, its longest winning streak this year.
European shares rose to a five-year high after robust growth data from China for the third quarter, which boosted shares of luxury goods companies and miners.
The Stoxx Europe 600 index extended its rally to seven days, rising 0.76 percent, while the broader FTSEurofirst 300 of leading European shares rose 0.65 percent to close at a provisional 1,276.29, a new five-year high.
Meanwhile, Japan's Nikkei stock average slipped succumbing to profit-taking after a seven-session rally, while investors pondered the impact of the US government shutdown on the world's largest economy.
The benchmark Nikkei eased 0.2 percent to 14,561.54, after a seven-day rally through Thursday that was its longest winning streak in 7-1/2 months. On the week, it gained 1.1 percent, its second straight weekly gain. The broader Topix shed 0.1 percent to 1,205.52 in relatively light trade, with 2.06 billion shares changing hands.