Stocks End Higher; S&P 500 Closes Above 1,500
Stocks finished higher in trading today, with the S&P 500 closing above 1,500, as some strong corporate earnings reports and upbeat economic data from Germany lifted investors’ sentiment.
The Dow Jones ended the day 0.51% higher at 13,895.98, the S&P 500 ended the day 0.54% higher at 1,502.96, and the Nasdaq ended the day 0.62% higher at 3,149.71. For the week, the Dow Jones rose 1.80%, the S&P 500 rose 1.13%, and the Nasdaq rose 0.48%.
All sectors in the S&P 500 except Basic Materials ended the day in green. Consumer Cyclical sector was the best performer today, ending the day 1.03% higher. Conglomerates ended the day 1% higher. Healthcare sector ended the day 0.81% higher. Consumer Non-Cyclical sector ended the day 0.91% higher. Basic Materials sector finished the day 0.06% lower.
Among the major movers in trading today were Netflix Inc. (NASDAQ: NFLX), which ended the day 15.46% higher at $169.90, Oshkosh Corp. (NYSE: OSK), which ended the day 18.80% higher at $41.08, Starbucks Corp. (NASDAQ: SBUX), which ended the day 4.10% higher at $56.81, Apple Inc. (NASDAQ: AAPL), which ended the day 2.36% lower at $439.85, Select Comfort Corp. (NASDAQ: SCSS), which ended the day 17.87% lower at $23.16, Wal-Mart Stores Inc. (NYSE: WMT), which ended the day 1.13% lower at $69, and Procter & Gamble Company (NYSE: PG), which ended the day 4.02% higher at $73.25.
On the economic front, a report released by the Commerce Department showed that new home sales fell 7.3% in the month of December to a seasonally adjusted annual rate of 369,000.
The weak housing market data from the U.S., however, was overshadowed by strong economic data from Germany. A report released earlier today showed that Germany’s Ifo business climate index rose to its highest level in six months in January. The strong German economic data pushed European markets higher in trading today. Markets in Asia ended on a mixed note overnight.