- MarketPulse - https://www.marketpulse.com -

S&P 500 Remains Above 2000

U.S. stocks ended little moved on Wednesday as Wall Street caught its breath, with the S&P 500 closing at a record just above 2,000 for a second consecutive session.

“These record highs you’re seeing are backed by good earnings, and not from companies cutting costs, but true earnings from sales and operations. A lot of companies have healthy balance sheets and are looking to expand, so this (bull market) is not a flash in the pan, we think we’ll see 10 to 11 percent overall S&P growth this year,” said Frank Fantozzi, president and CEO of Planned Financial Services in Cleveland, Ohio.  “Overall, people should enjoy what is happening,” Fantozzi added.

Tiffany gained after the luxury-goods seller hiked its 2014 outlook. Smith & Wesson declined after the gun manufacturer trimmed its full-year profit forecast. Apple gained after Bloomberg News cited people familiar with the matter in reporting the company’s suppliers readying to make its biggest-yet iPad.

CNBC [1]

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.


Latest posts by marketpulsefxstaff (see all [4])