Thursday, August 1, 2013

S&P 500, Dow Close At All Time Highs

The S&P 500 and the Dow Jones Industrial Average both closed at record highs on the first day of trading in August.

The S&P 500 broke through the 1,700 barrier, closing up 1.25% at 1,706.82, as investors bet that the Federal Reserve will continue to add more stimulus to the economy.  The Dow rose .83%, closing at 15628.02, also a record high.  The NASDAQ composite gained 49.37 points, up 1.36% to close at 3675.74.

Outpacing the broad stock indices was the price of WTI light sweet crude oil which jumped 2.51% to close at $107.75 a barrel.