Go back to the stock market Tuesday record territory as investors seize the latest encouraging news on the economy. This time, it is a small business health report.
Small business owners a little optimistic in April, according to a survey released by the National Federation of Independent Business, the stock market opened. This will help push the Russell 2000 index of small stocks rose 1.3%, ahead of other key indicators.
"Economic pillar of the small businesses in many ways ... it is a positive surprise to see the index pulled up, said:" Quincy Krosby, market strategist at Prudential Financial. "Overall, the market demand higher and difficult to play."
Russell index was 16.1%, higher than the beginning of this year, or more than the S & P 500 index, including a larger, global company. SmallCap part, because they are more focused on the United States, which is recovering, and did not get as much revenue from the recession plagued Europe do.
In a small company stock in advance how optimistic investors have become another sign. The smaller stocks more than a big risk, but also to provide investors with greater returns in a rising market prospects.
Another close attention to the stock market index has also been on a tear: transportation stocks. The Dow Jones Transportation Average rose 1.9%, year-on-year growth of 21.8% this year, far more than other major indexes. Investors often see these stocks as an economic indicator. When a company to produce and deliver more cargo, thinking, truckers, airlines and railways do more business.
Market opens up, climbed steadily throughout the day.
Be supported early hedge fund manager David Tepper said he is still bullish stock. Speaking before the stock market opened in CNBC, Tepper said, investors should not worry about the Fed's tapered package. Money manager manages about $ 1.8 billion, according to the broadcast.
At the close, the Dow Jones Industrial Average rose 123.57 points, or 0.8%, to 15,215.25 points. S & P 500 index rose 16.57 points, or 1%, to 1,650.34 points. Turn off both on Monday to close at record highs.
Dow has been awarded a 18-game winning streak Tuesday. The only day Wednesday, has a longer streak of consecutive gains 24 as early as 1968, according to Schaeffer Investment Research.
Strong market in the month since May. S & P rose over the past nine days, Russell and the Dow Jones Transportation Average rose 7.
Exciting prospects from the Fed continued to support the operation of the market.
RDM financial firms, chief market strategist Michael - Shelton (Michael Sheldon) said, "For stock investors, the U.S. economy is" not too hot, not too cold. The Fed will continue its $ 85 billion in economic stimulus plan, a month is weak enough, but powerful enough to generate steady earnings.
"There are a lot of momentum in the market," Shelton said. "This is largely driven by the United States, the Federal Reserve and the moderate growth"
U.S. economic growth in the first quarter at an annual rate of 2.5%. Although hiring to pick up, the unemployment rate is still at 7.5%, the Fed's target is higher than the rate of 6.5%. Therefore, it is expected the central bank to continue to buy bonds to drive down long-term interest rates and encourage more borrowing and spending.
S & P 500 index in corporate profits, at the same time, an increase of about 5% in the first quarter and is expected to be faster growth rate in the second half of this year, according to S & P Capital IQ's.
All 10 industry groups in the S & P 500 index Tuesday rose, leading banks and insurance companies increased by 1.7%. Most of the financial stocks in the past month, 6.1%.
Bank of America (Bank of America) climbed to more than two years maximum. The company shares rose 36 cents, or 2.8%, to $ 13.34. JP Morgan Chase rose 56 cents, or 1.1 percent, to $ 50.23.
The Nasdaq composite index rose 23.82 points, or 0.7 percent, to 3,462.61.
Dow has risen 16.1% since the beginning of this year, the S & P 500 index of 15.7%.
Large motion equity:
- Sony shares listed in the U.S. rose 10%, hedge fund manager Daniel Loeb, part of the company to sell its entertainment business and use the money to support its struggling electronics business. The company's shares rose $ 1.87, $ 20.76.
Bonds:
In government bond trading, the price of 10-year bonds fell, and its yield rose to 1.97% from 1.92% in late Monday, as investors funds from bonds to stocks and other riskier assets. Its production from its highest level since mid-March.
The notes yield a record low of 1.63% in May 1 year. Two days after it began surging in hiring over the past three months recorded strong growth.
Currency:
Against the U.S. dollar, the yen to weaken. One U.S. dollar bought 102.24 yen from 101.93 yen late Monday late Tuesday. The U.S. dollar surged more than 100 yen for the first time in four years last week. In an effort to restore it from a two decades in the doldrums, the Japanese currency as the country's central bank cash flooding the Japanese economy has been in decline. The euro against the U.S. dollar fell slightly to $ 1.294 from $ 1.297.
Goods:
The stronger dollar weighed on commodities. When the use of the rising dollar makes dollar-denominated crude oil and other commodities, other currencies such as the yen and the euro investors are more expensive. This tends to decrease the demand for these commodities, pushing prices lower.
The price of crude oil fell 96 cents, or 1%, to $ 94.21 a barrel. The oil has lost $ 2.41 a barrel, the past four days. Tuesday, the world's leading Energy Agency raised its U.S. oil production and global demand is expected to fall.
The price of gold fell $ 9.80, or 0.7 percent, to $ 1,424.50.
Copper major commodities decline. July contract fell 7.2 cents, or 2.1 percent, to $ 3.288 per pound.
 
 



Other News:
Stock market rises back into record territory
Google executive defends tax strategy to lawmakers
Vibration and temperature checks of rolling bearing
FDIC shutters small bank in Arizona
Cage for axial spherical roller bearings
UN watchdog, EU's Ashton to press Iran in nuclear dispute
U.N. condemns Assad forces, but unease grows about rebels
UN: $2.5 trillion in disaster losses since 2000