Wall St reaches highest since June 2008
The broad S&P 500 index reacted to better-than-expected reports on US home sales and consumer sentiment.
The broad S&P 500 index reacted to better-than-expected reports on US home sales and consumer sentiment.
Stocks on Wall St rose to their highest close since 2008.
The broad S&P 500 index reacted to better-than-expected reports on home sales and consumer sentiment.
It advanced 0.2%, to 1365.74, its highest close since June 5, 2008.
By contrast, the blue chip Dow Jones Industrial Average fell 1.74 points, or 0.1%, to 12,982, after reaching above the 13,000 mark earlier in the session.
The Dow first breached this level in trading on Tuesday but has yet to close above it – a level last seen in May 2008.
The Nasdaq Composite added 0.2%, to 2964.
Technology and utility stocks led the advance, while financial stocks lagged behind. American Express topped the Dow, up 1.1%, while Hewlett-Packard fell 1.3% to weigh on blue chips for the second consecutive session.
US consumers turned more upbeat about the economy at the end of February.
The Thomson Reuters/University of Michigan consumer sentiment index rose to 75.3, better than the 73 expected by economists surveyed by Dow Jones Newswires.
Sales of new homes fell in January, but managed to beat expectations.
Other markets: Europe, Asia up
European markets were broadly higher. The Stoxx Europe 600 rose for the first time in four sessions, up 0.3% to 264.77, as investors focused on firm economic data and earnings as concerns about Greece's debt recede.
Norway’s Statoil rose 1.4% after announcing a significant offshore gas discovery in East Africa, its fifth biggest find in the past 12 months.
Consumer confidence in France rose slightly in February and that Germany's economy contracted marginally during the fourth quarter.
Meanwhile, the Greek Parliament approved a debt-restructuring plan for private bondholders.
The UK’s FTSE 100 index fell fractionally to 5935.13. In France, the CAC 40 index rose 0.6% to 3467.03, while in Germany, Deutsche Bank leapt 4.5%, helping lift the DAX 30 index 0.8% higher to 6864.43.
Asian markets also rose, with some energy shares getting a boost from a rise in oil prices.
Japan's Nikkei Stock Average rose 0.5%, to 9647.38, a six and a half-month high and up three consecutive weeks.
China's Shanghai Composite rose 1.3%, to 2439.63, a three-month high. The index has advanced 13% over the past six weeks.
Australia's S&P/ASX 200 index gained 0.5%, to 4306.8, up 2.6% on the week, snapping a three-week losing streak.
Stocks in Korea, Hong Kong and India halted a seven-week winning streak. Korea's Kospi ended up 0.6%, at 2019.89, but fell 0.2% for the week.
Hong Kong's Hang Seng Index added 0.1%, to 21,406.86, but down 0.4% on the week. India's Sensex fell 0.9%, to 17,923.57, down 2% on the week.
Commodities: Oil up, gold down
Crude-oil prices climbed to $US109.49 a barrel amid fears that cuts in imports of Iranian crude would tighten supplies.
Light, sweet crude for April delivery rose for the seventh consecutive session, to as high as $US109.95 a barrel, before pulling back slightly to settle up $US1.94, or 1.8%, to $US109.77 in New York.
The contract gained 6% this week, lifted largely by worries about Iran.
Brent crude on the ICE futures exchange rose $US1.85, or 1.5%, to $US125.47 a barrel, its highest level in 10 months.
Gold slipped 0.6%, to $US1775.10 a troy ounce.
Currencies: Euro lifts to year’s high
The euro rose to multi-month highs against the US dollar and yen.
The euro advanced to $US1.3487, its highest level against the dollar since December 5, and as high as ¥109, its highest since November 1.
The dollar traded at ¥80.89 compared to ¥80, while the euro was at ¥108.89 from ¥106.94.
The UK pound bought $US1.5881 compared to $US1.5743, while the dollar was at 0.8944 Swiss franc from 0.9015 franc.