The Nasdaq Composite climbed to the highest level in 15 years, topping its dot-com-era closing high, as U.S. stocks shrugged off mixed earnings and disappointing manufacturing data from across the globe. Oil rose to a four-month high.
The Nasdaq Composite climbed 0.3 percent at 12:26 p.m. in New York, poised to close at a record for the first time in 15 years. The Standard & Poor’s 500 Index climbed 0.3 percent. The Stoxx Europe 600 Index dropped 0.6 percent. The euro rose on speculation that Greece and its creditors will reach a deal to receive aid payments. Oil jumped 3.2 percent.
Gains Thursday in Microsoft Inc. and EBay boosted the Nasdaq, while the S&P 500 and Dow Jones Industrial Average are within striking distance of all-time highs as earnings from large companies surpass estimates even as the strong dollar weighs on overseas sales. Slower expansion in euro-area manufacturing and a decline in Chinese factory data signaled Asian stimulus measures and European Central Bank bond purchases have yet to take hold.
Source : Bloomberg