S&P 500 closes at more than 1,400

Aug. 7, 2012 at 4:51 PM
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NEW YORK, Aug. 7 (UPI) -- The Standard and Poor's 500 topped 1,400 in early trading Wednesday on the New York Stock Exchange and never slipped back.

Major U.S. stock indexes in late afternoon trading maintained a strong showing for the third consecutive day, all closing in positive territory.

The Dow Jones industrial average added 51.09 points, 0.39 percent, and closed at 13,168.60.

The Nasdaq Composite added 25.95 points, 0.87 percent, and finished at 3,015.86, the first time it crossed the 3,000 benchmark since early May.

The S&P 500 rose 7.12 points, 0.51 percent, to 1,401.35. The index, paced by gains in energy shares, cracked the psychological barrier for the first time in three months.

"This is starting to look like it might be a normal recovery, and investors are slowly starting to see it that way," Hugh Johnson, chairman of Hugh Johnson Advisors, told MarketWatch.

On the New York Stock Exchange, the listed volume was 3.5 billion shares.

The 10-year U.S. treasury bond was yielding 1.631 percent.

Against the euro, the dollar was trading at $1.24 Tuesday from $1.2399 Monday. Against the Japanese yen, the dollar was trading at 78.62 yen from 78.24 yen the previous day.

In London, the FTSE 100 closed at 5,841.24, adding 32.47 points, 0.56 percent.

In Tokyo, the Nikkei closed up 77.22 points, 0.88 percent, to 8,803.31.

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