Encouraging economic news pushed the Standard & Poor's 500 index past 2,000 Tuesday morning, a day after the index closed just short of the milestone number. The Dow Jones industrial average was also on track for its own record high.
KEEPING SCORE: The S&P 500 rose six points, or 0.3 percent, to 2,004 as of 11:37 a.m. Eastern. The Dow Jones industrial average rose 65 points, or 0.4 percent, to 17,142. That's four points above the record high close it reached on July 16. The Nasdaq composite gained 13 points, or 0.3 percent, to 4,571.
CONFIDENT CONSUMER: The Conference Board said that its consumer confidence index rose this month to the highest point in nearly seven years. Strong job gains helped boost the index, which has been rising for four months. The optimism suggests that Americans will be more likely to spend in the months ahead, an important boost to the economy.
THE QUOTE: "It tells you that the consumer is probably back in the game," said Jim Russell, senior equity strategist at U.S. Bank Wealth Management. "We need the consumer to participate fully in the unfolding economic recovery."
HIGHER ORDERS: Orders of durable manufactured goods surged by a record 22.6 percent in July, thanks to a jump in aircraft sales.
HOUSING RED FLAG? A key housing market barometer shows U.S. home prices increased at a slower pace in June. The Standard & Poor's/Case-Shiller 20-city home price index rose 8.1 percent in June from a year earlier. That's down from a 9.4 percent gain in May. The deceleration should help ease some of the price pressures on would-be buyers.
GAMING PLAY: Amazon rose 2.3 percent after saying that it would buy video streaming company Twitch for $970 million. The stock climbed $8.38 to $342.45.
SALES SLUMP: Best Buy sank $1.54, or 4.9 percent, to $30.43 after the electronics retailer reported that its fiscal second-quarter net income plunged 45 percent as sales weakened.
OVER THERE: In Europe, Germany's DAX rose 0.8 percent, while France's CAC-40 rose 1.2 percent. Britain's FTSE 100 rose 0.6 percent after being closed Monday for a holiday. In Asia, China's Shanghai Composite Index declined 1 percent, while Tokyo's Nikkei 225 shed 0.6 percent. Hong Kong's Hang Seng declined 0.4 percent.
BONDS AND COMMODITIES: Bond prices rose. The yield on the 10-year Treasury note was little changed at 2.39 percent. U.S. crude for October delivery rose 54 cents to $93.89 in New York.
KEEPING SCORE: The S&P 500 rose six points, or 0.3 percent, to 2,004 as of 11:37 a.m. Eastern. The Dow Jones industrial average rose 65 points, or 0.4 percent, to 17,142. That's four points above the record high close it reached on July 16. The Nasdaq composite gained 13 points, or 0.3 percent, to 4,571.
CONFIDENT CONSUMER: The Conference Board said that its consumer confidence index rose this month to the highest point in nearly seven years. Strong job gains helped boost the index, which has been rising for four months. The optimism suggests that Americans will be more likely to spend in the months ahead, an important boost to the economy.
THE QUOTE: "It tells you that the consumer is probably back in the game," said Jim Russell, senior equity strategist at U.S. Bank Wealth Management. "We need the consumer to participate fully in the unfolding economic recovery."
HIGHER ORDERS: Orders of durable manufactured goods surged by a record 22.6 percent in July, thanks to a jump in aircraft sales.
HOUSING RED FLAG? A key housing market barometer shows U.S. home prices increased at a slower pace in June. The Standard & Poor's/Case-Shiller 20-city home price index rose 8.1 percent in June from a year earlier. That's down from a 9.4 percent gain in May. The deceleration should help ease some of the price pressures on would-be buyers.
GAMING PLAY: Amazon rose 2.3 percent after saying that it would buy video streaming company Twitch for $970 million. The stock climbed $8.38 to $342.45.
SALES SLUMP: Best Buy sank $1.54, or 4.9 percent, to $30.43 after the electronics retailer reported that its fiscal second-quarter net income plunged 45 percent as sales weakened.
OVER THERE: In Europe, Germany's DAX rose 0.8 percent, while France's CAC-40 rose 1.2 percent. Britain's FTSE 100 rose 0.6 percent after being closed Monday for a holiday. In Asia, China's Shanghai Composite Index declined 1 percent, while Tokyo's Nikkei 225 shed 0.6 percent. Hong Kong's Hang Seng declined 0.4 percent.
BONDS AND COMMODITIES: Bond prices rose. The yield on the 10-year Treasury note was little changed at 2.39 percent. U.S. crude for October delivery rose 54 cents to $93.89 in New York.
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