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Dow Jones Industrial Average

Last Updated at 21 Aug 2014, 16:27 ET *Chart shows local time Dow Jones intraday chart
value change %
17039.49 +

Top winner and loser

Intel Corp.

35.15 +

Merck & Co. Inc.

58.85 -
value change %

Nasdaq Index

4532.10 +

S&P 500 Cash Index - Chicago Mercantile Exchange

1992.37 +

(Close): The S&P set a fresh all-time high on Thursday boosted by signs of a strengthening US economy.

The S&P 500 added 5.86 points, or 0.29%, to hit 1,992.37, while the Dow Jones rose 60.62 points, or 0.36%, to 17,039.75. And The Nasdaq rose rose 5.62 points, or 0.12%, to 4,532.10.

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.

Bank of America rose 4.1% after it reached a $16.7bn settlement with the US Justice Department.

However Dollar General fell 0.2% after its $9.7bn takeover bid was rejected by rival Family Dollar, which said it would continue to pursue its plans for a merger with Dollar Tree.

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.

More Business stories


BBC Business Live

    GAP IN INDIA 06:30:
    Gap logo

    US clothing store Gap is bringing its brand to India, aiming to open 40 outlets. It will launch its first two stores there early next year in Mumbai and the capital Delhi - India's biggest and busiest cities.

    BANK OF AMERICA FINE 06:20: Radio 5 live
    Bank of America

    Chris Orndorff, a fund manager at Western Asset Management is on Wake Up to Money talking about Bank of America's record $16.7bn settlement. The penalty dates back to the behaviour of a company it purchased, Countrywide. "The timing of the Countrywide purchase has to be one of the worst in history," he says. The fine wipes out the cumulative net income of the bank for the last three years. The bank is very safe though, he says.


    Argentina's plan to exit its debt default by asking investors holding defaulted bonds to swap them for new locally issued debt has been ruled "illegal" by a US court. New York Judge Thomas Griesa said the plan was "lawless". Argentina was trying to get around an earlier court ruling banning it from paying interest to investors who had accepted restructured bonds.

    OIL PRICE 06:00: Radio 5 live
    Oil barrels

    After rising sharply in June, oil prices have now slipped back to 14-month lows. Amrita Sen from Energy Aspects tells Wake Up to Money. She says that "the initial price rise was on the back of the fears should any disruptions come at peak demand". However, despite geopolitical risks, supply has remained undisrupted while demand has fallen.

    06:00: Nick Edser, Business reporter

    Good morning. Get in touch with us via email: bizlivepage@bbc.co.uk or on twitter @BBCBusiness.

    06:00: Howard Mustoe, Business Reporter

    Hello! We'll be bringing you all the latest business news, data and analysis. Stay with us.



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