Wall Street market report
- 21 August 2014
- From the section Business
(Close): The S&P set a fresh all-time high on Thursday boosted by signs of a strengthening US economy.
The rise came after US home re-sales hit a 10-month high in July.
"The economy is beginning to fire on more cylinders," said Ryan Sweet, a senior economist at Moody's.
Hewlett-Packard surged 5.4% after reporting its first quarterly revenue increase in three years. Net revenue for the third quarter rose to $27.6bn from $27.2bn.
However, shares in Hertz fell, slipping 0.8% after activist investor Carl Icahn's disclosure that he has amassed an 8.5% stake in the company and announced plans to push for a shakeup at the slumping car-rental giant.