S&P 500 tops 1900 for first time; Dow at record

S&P 500 tops 1900 for first time; Dow at record

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S&P 500 tops 1900 for first time; Dow at record

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by David Carrig, USA TODAY

khou.com

Posted on May 13, 2014 at 10:17 AM

Stocks rose Tuesday as the Standard & Poor's 500 index moved above 1900 for the first time ever.

Both the Dow Jones industrial average and S&P 500 pushed further into record territory after closing at record highs Monday.

In morning trading, the S&P 500 was up 0.2% and rose as high as 1,901.03. The Dow gained 0.2% to 16,724 and the Nasdaq composite index rose 0.1% to 4,147.

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On Monday, the S&P 500 index rose 18.17 points, or 1%, to finish at an all-time high of 1,896.65. The Dow gained 112.13 points, or 0.7%, to end at record closing high of 16,695.47. The Nasdaq climbed 71.99 points, or 1.8%, to 4,143.86.

In economic news, retail sales grew a scant 0.1% in April, disappointing forecasters who expected more of an early spring pick-up. Economists' had forecast a 0.5% gain.

In Asia, the Nikkei climbed 2% to 14,425.44 after a smaller-than-expected current account surplus for Japan weakened the yen. Hong Kong's Hang Seng index gained 0.4% to 22,352.38.

European shares traded higher, extending recent gains to record levels. London's FTSE 100 index was up 0.1% and Germany's DAX index jumped 0.6%.

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