Up, up, and AWAY! The market was up again. Another record day.
Stocks rose, sending the S&P 500 Index to another record, amid better-than-forecast earnings and data on jobless claims that raised optimism in the economy. The S&P 500 added 0.5 percent to 1,689.38. The Stoxx Europe 600 Index rallied 0.9 percent to the highest level on a closing basis since May. Russia’s Micex index sank 1.1 percent, the most in four Weeks. The MSCI Emerging Markets Index fell 0.3 percent for the first drop in eight days, snapping the longest winning streak since January. Benchmark indexes in South Korea and Taiwan dropped at least 0.6 percent, while India’s Sensex index advanced 0.9 percent. The Shanghai Composite Index slid 1.1 percent and has lost 2.1 percent in two days. The IMF said yesterday China’s economic growth may trail forecasts.
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury