July 29, 2014
Wall Street advances; S&P, Nasdaq book fifth straight gain
US stocks advanced modestly in subdued trading as investors showed hesitation in the wake of a strong rally last week and before a slew of key earnings releases this week.
Today's gain marked the S&P 500's fifth straight climb, its longest winning streak since October. The S&P 500 wrapped up its best week since July last week, boosted by results from such names as General Electric Co and Morgan Stanley.
The Nasdaq also scored its fifth straight gain.
The Dow Jones industrial average rose 40.71 points or 0.25 percent, to end at 16,449.25. The S&P 500 gained 7.04 points or 0.38 percent, to close at 1,871.89. The Nasdaq Composite added 26.03 points or 0.64 percent, to finish at 4,121.546.
Japanese shares climbed to a two-week high today before giving up gains to end flat in thin trading due to the Easter holidays, while nonbank lenders surged on a media report the government is considering easing rules in the industry.
The benchmark Nikkei ended flat at 14,512.38, as profit-taking set in after the average had risen as high as 14,649.50, a level last visited on April 8.
The broader Topix fell 0.2 percent to 1,171.40, with trading volume about 27 percent below the average for the past 100 sessions.
The new JPX-Nikkei Index 400 shed 0.2 percent to 10,655.42.European shares were closed today.