Wednesday 27 August 2014

S&P 500 closes above 2,000 as US durable goods orders urge

Stocks rose again on Tuesday. The STOXX Europe 600 gained 0.7 percent. The S&P 500 edged up 0.1 percent but that was enough to see it close above 2,000 for the first time ever.

US stocks were boosted by a report on Tuesday showing a 22.6 percent surge in durable goods orders in July. The surge was mainly due to a 318 percent jump in plane orders.

Orders for non-defense capital goods excluding aircraft fell 0.5 percent last month after a 5.4 percent jump in June that was the biggest since November.

Also on Tuesday, the Conference Board reported that its consumer confidence index rose to 92.4 in August, the highest since October 2007, from 90.3 in July.

Another report on Tuesday showed that the S&P/Case-Shiller index of home prices in 20 cities increased 8.1 percent in June from a year earlier, the smallest 12-month increase since January 2013.

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