October 21, 2014
Wall Street ends higher; Dow at record close
US stocks rose today, with the Dow Jones industrial average closing at a record high, boosted by the latest merger news and some strong corporate earnings.
The Dow Jones industrial average rose 77.33 points or 0.45 percent, to end unofficially at 17,138.01. The S&P 500 gained 8.26 points or 0.42 percent, to finish unofficially at 1,981.54. The Nasdaq Composite added 9.58 points or 0.22 percent, to close unofficially at 4,425.97.European equity markets also recovered today from losses in the previous session as a rebound in Banco Espirito Santo and in mining stocks lifted the region's bourses.
The pan-European FTSEurofirst 300 index, which had slipped 0.4 percent on Tuesday, was up 1.2 percent at 1,375.14 points. The euro zone's blue-chip Euro STOXX 50 index rose 1.4 percent to 3,197.81 points.
Meanwhile, Japan's Nikkei share average edged down after staying nearly flat for most of the session as investors took profits from gains the previous day, while China's economic data received a muted reaction from the market.
China's economy expanded by 2.0 percent in the second quarter from the previous quarter, taking annual growth to 7.5 percent. Retail sales and industrial output were either in line with forecasts or slightly higher.
The Nikkei ended 0.1 percent lower at 15,379.30 after it closed at a 1-1/2-week high the previous day. The broader Topix was flat at 1,273.59, and the JPX-Nikkei Index 400 was also flat at 11,588.37.