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S&P 500 rises above 1,800 for the first time

U.S. stocks reach new records with strong showings from Boeing and promises from the Federal Reserve, but investors remain wary.
Posted By Sonali Basak   |   Nov. 18, 2013 at 9:54 AM   |   Comments

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Nov. 18 (UPI) -- U.S. stocks soared to new records, with the Dow Jones industrial average above 16,000 and the S&P 500 above 1,800 early Monday amid optimistic global economic news. Global markets rallied as well.

Renewed investor confidence came amid China's commitment to economic development and private investment. Chinese stocks also rose.

News at home also spurred investors after the Federal Reserve announced a continued commitment to the bond-buyback program adding $85 billion into the economy monthly.

The DJIA of blue-chip stocks was led by Boeing, which showed better-than-expected sales of its new 777x during the Dubai airshow over the weekend, selling more than 300 planes to airlines including Emirates and Qatar Airways.

The S&P 500 is up more than 25 percent this year and the Nasdaq is reaching record territory at almost 4,000, where it hasn't been since the September 2000 when the tech bubble collapsed.

However, investors remain wary as key retailers -- including Target, JCPenney and Best Buy -- release quarterly earnings this week. This comes after mixed reports released last week by retailers such as Macy's, Kohl's and Wal-Mart going into the holiday season.

[Bloomberg]
[USA Today]
[CNN Money]

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