January 20, 2018
Thursday, August 14, 2014

Wall Street ends higher after Ukraine concerns

US stocks advanced after conciliatory comments from Russia helped ease concerns about escalation of the conflict in Ukraine and offset some uninspiring earnings.

Gains were broad, with all but one of the S&P's 10 primary sector indexes rising for the day. An S&P index of healthcare stocks gained 1.2 percent and led the advance, while an index of energy stocks dragged, slipping 0.5 percent.

Russian President Vladimir Putin said Russia would stand up for itself but not at the cost of confrontation with the outside world, striking a softer tone after tough rhetoric aimed at Ukraine for several months. The market had been pressured in recent weeks by uncertainty over the conflict.

Earnings season continued to wind down, with 92 percent of S&P 500 companies having reported quarterly earnings. Of the companies that have reported results so far, 67.7 percent beat analysts' expectations.

The stock market has looked past flaring tensions abroad to rally for an extended period, with the S&P 500 marking more than 1,000 days since its last correction, which Wall Street defines as a drop of 10 percent from the most recent high.

The Dow Jones industrial average rose 61.78 points, or 0.37 percent, to close at 16,713.58. The S&P 500 gained 8.46 points, or 0.43 percent, to finish at 1,955.18. The Nasdaq Composite added 18.88 points, or 0.43 percent, to end at 4,453.00.

About 4.7 billion shares traded on all US platforms, according to BATS exchange data, compared with the five-day average of 5.4 billion.

European stocks closed up, adding to this week's tentative rebound, although weaker-than expected economic output data from Germany and France limited the gains.

By 1100 GMT, the pan-European FTSEurofirst 300 index ended 0.3 percent higher at 1,329.14 points, while the euro zone's blue-chip Euro STOXX 50 index edged up 0.07 percent to finish at 3,058.16 points.

In Asia, foreign investors sold a record amount of Japanese stock futures last week, when fears that violence in Ukraine and the Middle East could disrupt global growth pushed the country's share prices to two-month lows, exchange data showed today.

The Nikkei share average fell 4.8 percent last week, the biggest fall since early April.

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Tags:  Stocks  shares  FTSEurofirst  Nikkei  US  Dow Jones  

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Edition No. 5055 - This publication is a property of NEFIR S.A. -RNPI Nº 5343955 - Issn 1852 - 9224 - Te. 4349-1500 - San Juan 141 , (C1063ACY) CABA - Director Perdiodístico: Ricardo Daloia