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Financials, materials push Dow, S&P 500 to new closing high

The US markets finished near session highs across the board, boosted by financials and materials, with the Dow and S&P 500 logged fresh closing highs. The cboe volatility index closed below 13.

May 09, 2013 / 08:54 AM IST

The US markets finished near session highs across the board, boosted by financials and materials, with the Dow and S&P 500 logged fresh closing highs. The CBOE volatility index closed below 13.


Agency reports indicate that approximately 85 percent of S&P 500 companies have posted quarterly results so far, with 67 percent topping earnings expectations and 24 percent missing forecasts.


The Dow Jones industrial average gained 48.92 points to end at a record high of 15,105.12. The Standard & Poor's 500 Index went up 6.73 points to close at a record high of 1,632.69. The Nasdaq Composite Index moved up 16.64 points to 3,413.27.


On economic data front, weekly mortgage applications gained last week led by better refinancing demand and as interest rates declined to the lowest level of the year.


In key data to watch out for in the US today, weekly jobless claims are expected to come in higher at 335,000. Also watch out for wholesale trade data


European markets too closed in the green boosted by upbeat Chinese export data.


In the currency space, the euro stood near a one-week high against the dollar. The dollar index was at sub 82 levels.

In commodities, Brent crude continued to trade around USD 104 a barrel on concerns about global demand, with US crude stocks rising to new highs. From the precious metals space, gold prices have softened around USD 1470 an ounce.

first published: May 9, 2013 08:54 am

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