December 6, 2013
S&P 500 ends at record on Fed hopes; Dow, Nasdaq flat
The S&P 500 closed at another record high today as expectations were high that the Federal Reserve will keep its stimulus in place when it meets this week.
But the overall market was little changed, with the Dow and Nasdaq ending down slightly, after the recent sharp run-up in the stock market lost some momentum.
The Dow Jones industrial average dipped 1.35 points, or 0.01 percent, to end at 15,568.93. The Standard & Poor's 500 Index gained 2.34 points, or 0.13 percent, to finish at a record 1,762.11. The S&P 500 also posted another lifetime intraday high at 1,764.99.
The Nasdaq Composite Index slipped 3.23 points, or 0.08 percent, to close at 3,940.13.
Pan-European stocks steadied near 5-year highs today, propped up by robust corporate earnings, but with some strategists taking profits from the recent rally.
The FTSEurofirst 300 index was flat at 1,284.40 points in mid-session trade, hovering just below a 5-year high of 1,291.93 points reached last week.
Germany's DAX index rose by as much as 0.4 percent to touch a new record high of 9,017.95 points before settling back to trade flat at 8,988.85 points.
Lock maker Assa Abloy and power company Aggreko topped the FTSEurofirst 300's leaderboard, after Assa Abloy posted third quarter earnings ahead of market forecasts, while Aggreko reported a rise in underlying revenues and trading margins.
The FTSEurofirst 300 is up 13 percent since the start of 2013 while the DAX has risen by 18 percent.