Wall Street rises, the S & P ends above 1800

Wall Street rises, the S & P ends above 1800

Stocks on Wall Street continued to strengthen to new highs on Friday (Saturday morning GMT ) , with the S & P 500 closed above 1,800 for the first time and the Dow set a new record .

The broad-based S & P 500 added 8.91 points ( 0.50 percent ) to close at 1804.76 , while the Dow Jones Industrial Average rose 54.78 points ( 0.34 percent) to finish at 16064.77 , AFP reported .

The tech-rich Nasdaq composite index rose 22.49 points ( 0.57 percent) to 3991.65 .

Gains on Friday to close the week that underscores the dramatic excitement of Wall Street in 2013 , the year in which the S & P 500 rose more than 26 percent and the Dow recorded more than 40 new all-time record high .

" There is not much negative news for stocks slow down , " said Sam Stovall , chief investment strategist at Standard & Poor's Capital IQ . " Little by little , people threw in the towel , meaning they joined the rally . "

Analysts said the rally has been fueled by economic data continues to improve , better profits and loose monetary policy .

Most of the components in the Dow rose on Friday , with aerospace giant Boeing ( up 2.3 percent ) and Travelers Companies ( up 1.5 percent ) led the way . Nike rose 1.0 percent after announcing a 14 percent increase in the quarterly dividend .

But the chip maker Intel became the biggest losers among leading stocks ( blue chips ) , fell 5.4 percent after the " day of the analysts ' forecast that sales in 2014 will be flat .

" Summit Research " tell the whole presentation of the company's strategy can be summed up by the word " flat " .

IBM , another Dow component , also fell , slumped 1.5 percent after the investor Stanley Druckenmiller openly betting against the stock.

Biogen Pharmaceutical companies jumped 13.2 percent after the European medical advisory committee gave permission Tecfidera important for its treatment in order to eliminate multiple sclerosis that arise .

Retailer Ross Stores fell 5.7 percent after it forecast fourth-quarter earnings between 97 cents to 1.01 dollars per share , well below the U.S. $ 1.09 expected by analysts .

Chief executive Michael Balmuth said he expects the upcoming holiday shopping season into " the most competitive selling period and promosisional in recent years " .

Bond prices rose . The yield on 10 - year U.S. Treasury slipped to 2.75 percent from 2.78 percent on Thursday , while the 30 - year fell to 3.84 percent from 3.88 percent . Prices and bond yields move inversely AFP .