US

The Star Early Edition - - MARKETS -

STOCKS rose yes­ter­day, with the Stan­dard & Poor’s (S&P) 500 in­dex climb­ing to a record high, as health-care firms ral­lied and small­cap shares ral­lied from Mon­day’s de­clines.

The S&P 500 rose 0.4 per­cent to 2 049.76 points at 11.16am in New York. The Dow Jones in­dus­trial av­er­age in­creased 0.2 per­cent to 17 689.12. The Rus­sell 2000 in­dex of small-cap shares added 0.6 per­cent.

Medtronic and Ac­tavis re­bounded more than 3.9 per­cent to pace gains among health­care com­pa­nies. But Ur­ban Out­fit­ters fell 9.1 per­cent after the cloth­ing re­tailer posted third-quar­ter profit that missed an­a­lyst es­ti­mates. Home De­pot slipped 1.4 per­cent after fail­ing to raise its forecasts for sales and profit this year amid signs the hous­ing mar­ket is cool­ing.

“Con­sumer and in­vestor sen­ti­ment is pretty pos­i­tive,” Omar Aguilar, the chief in­vest­ment of­fi­cer of eq­ui­ties at Charles Sch­wab In­vest­ment Man­age­ment, said. “M&A (merg­ers and ac­qui­si­tions) is the topic of the day.” – Bloomberg

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