US

STOCKS rose on Wednesday, with benchmark indexes closing at all-time highs, amid optimism the economy is showing sufficient strength to weather a slowdown overseas.

Markets were closed yesterday for the Thanksgiving holiday.

The Standard & Poor’s 500 index rose 0.3 percent to 2 072.83 at the close in New York, extending gains in the final 15 minutes of trading. The Dow Jones industrial average added 12.81 points, or 0.1 percent, to 17 827.75. Both gauges ended at records. The Nasdaq 100 index climbed 0.7 percent to extend a more than 14-year high. About 4.9 billion listed shares changed hands in the US, 26 percent lower than the three-month daily average .

“Economic numbers in general have been good, and that optimism is following through,” Richard Sichel, chief investment officer at Philadelphia Trust, which oversees $2 billion (R21.9 bn), said. “It could be a good retail season.” – Bloomberg