S&P 500 Breaks through 2000 (just!)
US stocks closed higher yesterday, with the S&P 500 index closing above 2,000 for the first time ever. Investors pushed the S&P 500 up just enough to lead the index to close at the record-breaking 2,000.02 for the day. The Dow Jones industrial average gained 29.83 points to 17,106.70 and the Nasdaq rose 13.29 points to 4,570.64.
The confirmed merger of fast-food brands, Burger King and Tim Hortons, saw mixed results for the two companies. After rising more than 19% to $32.40 on Monday, Burger King shares closed down 4.32% yesterday. However, investors were more sanguine about the prospect for Time Hortons whose shares leapt another 8.47%, following a 19% rise in the previous session on Monday. Other winners included Dsw inc., the footwear and accessories retailer, which closed up 9.24%, while the biggest loser was Trina Solar, whose shares fell 8%.