April 26, 2024

S&P 500 closes at new highs

Index & Sector performance 10/17/13 The Market: The government put the debt ceiling behind the nation….until the beginning of next year.  The temporary resolution should take the issue off the front pages, for now.  The markets started with a gap lower which was quickly bought up and a strong rally continued to build off the 10/09 lows with the S&P 500 posting all time closing highs. In economic news Unemployment Claims came in at 358K vs consensus expectations of 357K so inline and then the Philly Fed Manufacturing index saw a small drop but was better than expected.  CNBC reported…