S&P Closes at Record High; Focus Turns to Earnings (VZ, GS)

After Congress passed a bill to temporarily increase the debt limit in the US, the S&P 500 hit a record close of 1,732,93 on Thursday. The index was also bumped up by positive quarterly earnings from Verizon (VZ) while IBM (IBM) and Goldman Sachs (GS) knocked the Dow lower. After the bell Google (GOOG) shared earnings that beat estimates for sales and profit.
The most recent jobless claims report showed that the number fell by 15,000 last week but many note that the data is slightly skewed because of the government shutdown. Worries remain that the 16-day closure did damage to the economy, but it seemed that things were returning to normal in the markets on Thursday. Most global indices also had positive days including the Stoxx Europe, the FTSE in London and Japan's Nikkei index.

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Published on Oct 17, 2013
By InvestorGuide Staff

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