partlycloudy
Sunday August 30th, 2015 4:06PM

S&P breaks 1,900 for 1st time

By The Associated Press
FRANKFURT, Germany (AP) -- Global stock markets remained supported Tuesday by a buoyant Wall Street where investors brushed aside weak retail sales data.

Despite figures showing that retail sales rose by only 0.1 percent in April, the S&P 500 index went over 1,900 for the first time, trading up 0.3 percent at 1,902. The Dow Industrials was also solid, trading 0.2 percent higher to 16,733.

The recent run on Wall Street, which has seen both indexes set a series of all-time closing highs, has helped European markets advance. On Tuesday, Germany's DAX climbed 0.5 percent at 9,752.92. Britain's FTSE 100 rose 0.1 percent to 6,859.80 and France's CAC-40 was up 0.2 percent at 4,502.76.

"Clearly investors remain confident with owning risk at the present time and prices are a reflection of that," said David White, a trader at Spreadex.

The euro was in focus too after a report that Germany's Bundesbank central bank was willing to back another stimulus, including an interest rate cut, by the European Central Bank.

ECB head Mario Draghi last week all but promised further stimulus, saying the bank's board was "comfortable" with acting in June. The prospect of lower interest rates tends to send a currency lower.

Earlier in Asia, the Nikkei rose 2 percent, closing at 14,425.44 after a smaller-than-expected current account surplus for Japan weakened the yen. A weak yen usually boosts the share prices of Japanese exporters.

Elsewhere, Hong Kong's Hang Seng rose 0.4 percent to 22,352.38 while China's Shanghai Composite index closed 0.1 percent down at 2,050.73 after a run of data suggested that growth decelerated in April, though to still-robust levels.
© Copyright 2015 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
US stocks post sixth straight year of gains
U.S. stocks ended a strong 2014 with moderate declines Wednesday.
4:43PM ( 7 months ago )
Palestinians push ahead in pursuit of war crimes charges against Israel
Stung by a resounding defeat in the U.N. Security Council, the Palestinians announced Wednesday that they joined the International Criminal Court to pursue war crimes charges against Israel.
1:57PM ( 7 months ago )
Business News
Grass fire impacts rush hour traffic on 985
Rush hour traffic on I-985 was slowed by a grass fire Wednesay afternoon with one lane closed while firefighters fought the blaze.
10:19PM ( 7 months ago )
Judge denies motions to move, delay Tsarnaev trial
Lawyers for Boston Marathon bombing suspect Dzhokhar Tsarnaev asked a federal appeals court Wednesday to overturn a judge's decision to not move his upcoming trial out of state.
10:02PM ( 7 months ago )
Sheriff: Man shot 2 on I-85 because he wanted car
A 22-year-old man shot two people who stopped to give him a ride on Interstate 85 in South Carolina on Christmas Eve because he wanted their car to drive to Georgia, a sheriff said Wednesday.
5:21PM ( 7 months ago )
Local/State News
McDonald's has 200 part-time jobs available in Hall, Gwinnett counties
The Georgia Department of Labor (GDOL) will help McDonald’s fill about 200 part-time jobs at restaurants in Hall and Gwinnett counties next week.
By AccessWDUN Staff
8:32AM ( 7 hours ago )
US immigration patterns shift: India, China outpacing Mexico as more skilled workers arrive
DALLAS (AP) — Siddharth Jaganath wanted to return to India after earning his master's degree at Texas' Southern Methodist University. Instead, he built a new life in the U.S. over a decade, becoming a...
6:03PM ( 22 hours ago )
Fed Vice Chair Fischer leaves door open for a Sept. rate hike, saying inflation likely to rise
WASHINGTON (AP) — Federal Reserve Vice Chairman Stanley Fischer left the door open Saturday for a Fed rate increase in September, saying the factors that have kept inflation below the central bank's t...
4:31PM ( 23 hours ago )
Job "blitz" coming to Gainesville's Melrose community
Melrose residents will have access to career guidance in their own community next month.
9:03AM ( 1 day ago )
Flowery Branch subdivision adding 115 new homes
Plans are underway for more than 100 new homes in two new sections of a Flowery Branch subdivision.
4:30PM ( 1 day ago )