Arab Today, arab today sp 500 tops 1900 for first time
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S&P 500 tops 1900 for first time

Arab Today, arab today

Arab Today, arab today S&P 500 tops 1900 for first time

New York - AFP

The S&P 500 crossed 1,900 for the first time Tuesday in early tradeafter an encouraging report on small-business optimism offset lackluster US retailsales data.About 50 minutes into trade, the broad-based S&P 500 rose 4.16 points (0.22 percent)to 1,900.81.The Dow Jones Industrial Average advanced 34.39 (0.21 percent) to 16,729.86, whilethe tech-rich Nasdaq Composite Index increased 6.28 (0.15 percent) to 4,150.14.Both the Dow and S&P 500 closed at record highs on Monday.The Commerce Department reported that US retail and food services sales rose amere 0.1 percent in April, weaker than the 0.3 percent gain expected by analysts.But the National Federation of Independent Businesses said its May index of small-business optimism rose 1.8 points to 95.2, the highest rating since 2007 before theGreat Recession hit.Pfizer's chief executive faced tough questioning by a British parliamentary panelover potential job cuts due to its proposed acquisition of British pharmaceuticalcompany AstraZeneca. But the chief of AstraZeneca, which has so far refused to entermerger discussions, would not rule out a deal if terms were changed. Pfizer rose 0.3percent.Dow member AT&T is close to a deal to acquire satellite-television provider DirecTVfor around $50 billion, US media reported. AT&T fell 1.3 percent, while DirecTV rose 1.4 percent.Keurig Green Mountain got a lift after Coca-Cola increased its stake in the coffeecompany from 10 to 16 percent. The two companies are collaborating on a device tomake cold drinks at home. Keurig Green Mountain rose 9.6 percent, while Coca-Colagained 0.9 percent.Bond prices rose. The yield on the 10-year US Treasury fell to 2.62 percent from 2.66percent Monday, while the 30-year declined to 3.45 percent from 3.49 percent. Bondprices and yields move inversely.  

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