The Nasdaq Composite climbed to the highest level in 15 years, topping its dot-com-era 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 0.4 percent at 4 p.m. in New York, to close at a record for the first time in 15 years. The Standard & Poor’s 500 Index climbed 0.2 percent, briefly passing its March 2 closing high. The Stoxx Europe 600 Index dropped 0.4 percent. The euro rose on speculation that Greece and its creditors will reach a deal to receive aid payments. Oil jumped 2.8 percent to settle at $57.74 in New York.
Gains Thursday in Microsoft Inc. and EBay Inc. pushed the Nasdaq past its record, while the S&P 500 climbed to an intraday high as earnings from large companies surpassed estimates even as the strong dollar weighed 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