US

The Star Early Edition - - MARKETS -

STOCKS rose yes­ter­day, after bench­mark in­dexes closed at all-time highs last week, as con­fi­dence in the global econ­omy grew amid support from cen­tral banks.

The Stan­dard & Poor’s (S&P) 500 in­dex rose 0.2 per­cent to 2 067.18 at 11.53am in New York. The Dow fell 1.22 points, or less than 0.1 per­cent, to 17 08.84, weighed down by Ver­i­zon and AT&T. The Rus­sell 2000 in­dex of smaller com­pa­nies climbed 0.7 per­cent.

Best Buy jumped 1.8 per­cent be­fore the start of the hol­i­day shop­ping sea­son. Ur­ban Out­fit­ters ad­vanced 5.1 per­cent, the most in the S&P’s 500 in­dex. Ver­i­zon fell 1.9 per­cent for the big­gest drop in the Dow Jones in­dus­trial av­er­age, after Cit­i­group low­ered its rat­ing on the stock. AT&T lost 1.9 per­cent.

“We’re see­ing a carry-over from last week’s com­ments by [Euro­pean Cen­tral Bank pres­i­dent Mario] Draghi try­ing to ad­dress the in­fla­tion in Europe, and the ac­tions from the Chi­nese cen­tral bank to lower lend­ing rates,” said Robert Pav­lik, the chief mar­ket strate­gist at Banyan Part­ners. – Bloomberg

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