S & P 500 closes for the first time in five years over 1,500

2:00 PM closes, first, years No Comments

From news agencies, NBC News

The S & P 500 index on Friday the 1,500 above sea level for the first time closed in more than five years as the strong U.S. earnings reports by & gamble Procter and others helped the benchmark to extend their rally in eight days.

The Dow Jones industrial average was 70.50 points or 0.51 percent to 13,895.83. The standard & poor's 500 index was 8.11 points, or 0.54 percent, to 1,502.93. The Nasdaq composite index was 19.33 points or 0.62 percent to 3,149.71.

For the week, the Dow Jones rose 1.8 percent, the S & P rose 1.1 percent and the NASDAQ rose by 0.5 percent. Profits for all three indexes, it was the fourth straight week.

Data showed sales of new U.S. single-family homes fell in December but rose in the year 2012 to its highest level since 2009, has turned a corner a shield the troubled US housing market.

"Economic data in the United States is higher, albeit modest been running." Things are incrementally better, "said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.

"The market was despite deterioration in the Apple move forward and this is also a positive."

Apple's shares fell 1.2 percent to $444.99 and was the iPhone manufacturer swap places as the most valuable U.S. company with ExxonMobil Corp by the afternoon.

In addition to the optimistic tone, improved morale of the German economy for a third month in a row in January to the highest in more than six months. In addition, said European banks, that they pay back more than the loans, which gave the Bank during the crisis the European Central Bank are expected much.

"Good news in the credit markets will help the stage for (further investments in) put risky assets," Krosby said.

Procter & gamble shares rose 3.6 percent to $72.99 after the world's best products for domestic manufacturers quarterly profit expectations rose. The company said sales and earnings Outlook for the fiscal year.

The benchmark S & P 500 index is more than 5 percent so far in January. Strong start this year, the equity market has solid balance sheet presentation, an agreement in Washington attributed to the expansion of the powers of the Government borrowing, encouraging signs of the global economy and seasonal inflows in equities.

Helping to lift the NASDAQ Composite rose Starbucks, 4.5 per cent to $57.01 after the coffee retailers stronger than expected sales in the United States and Asia.

Thomson Reuters data until Friday showed that 68 percent of the 147 S & P 500 companies that have reported the result exceeded expectations. Since 1994 62 percent of companies exceeded, while the average for the past four quarters is 65 percent expectations.

Halliburton co shares jumped 5 percent to $39.69 after the world's second largest oilfield service companies higher than expected profits and sales in the fourth quarter reported.

Reuters contributed to this report.