Alibaba’s first day of trading was a blowout, but its massive success failed to lift the rest of the market on Friday. more
The major U.S. stock market indexes rallied early and late on Thursday, propelling the Dow and S&P 500 to record closing levels. The Dow gained over 100 points or 0.6% for a second time this week, closing at a record 17266. The S&P 500 also closed at a new high (2011), up 0.5% for the day and nearly 9% so far in 2014. The NASDAQ Composite climbed 0.7% on the day, finishing just 0.1% shy of a 14½-year high but up over 14% year to date.
Stocks got a slight boost on Wednesday from the Federal Reserve which, pretty much as expected, reiterated that it would keep interest rates near zero for a “considerable time” after its big bond-buying program ends, likely next month. more