LONDON (ShareCast) - - S&P 500 tops 1,700 for first time
- ISM smashes forecasts
- Jobless claims unexpectedly fall

Dow Jones: 0.83%
Nasdaq: 1.37%
S&P 500: 1.26%

Support for continued stimulus from the Federal Reserve and some strong economic data saw stocks jump on Thursday, with the S&P 500 finishing at another record high after finishing above 1,700 for the first time. The Dow Jones also closed at an all-time high.

Initial jobless claims fell by 19,000 to 326,000 last year, surprising those who had called for no change at 345,000. This was the lowest reading since January 2008, which is likely to spell good things for Friday's all-important employment report.

Meanwhile, the US ISM manufacturing index surged to a two-year high of 55.4 in July, much higher than the previous 50.9 and ahead of the 52.0 consensus estimate.

"Overall, a very positive report, with the headline index now consistent with a further acceleration in annualised GDP growth to more than 2.5% in the third quarter," said Economist Amna Asaf from Capital Economics. The US economy grew an at annualised rate of 1.7% in the second quarter, figures released Wednesday showed.

Upbeat manufacturing figures from the UK, Europe and China on Thursday also helped to lift sentiment on Wall Street.

Traders were still digesting Wednesday's decision by the Fed to keep its asset purchase programme unchanged was widely expected. The Fed gave very little away, disappointing those who had hoped it would give an indication of when a 'tapering' of stimulus would actually begin.

Instead, it said that the US economy is improving and that "downside risks" had diminished, but the overall tone was slightly dovish as it added that it would continue with quantitative easing (QE) in order to "support a stronger economic recovery".

Policymakers also noted that inflation persistently below the 2.0% target "could pose risks to economic performance", which some took to suggest that QE could remain in place for some time yet.

Life insurer MetLife was a high riser on Thursday after adjusted quarterly earnings came in at $1.44 a share, ahead of the $1.33 forecast.

Consumer products giant Procter & Gamble also rose after beating estimates with numbers for its fourth quarter despite profits falling slightly on last year.

Film studio DreamWorks was in demand after reporting a 74% jump in profits, helped by its release of animated film 'The Croods'.

Automakers also had a good day after vehicle-sales data with Ford and General Motors making decent gains.


S&P 500 - Risers
Pioneer Natural Resources Co. (PXD) $174.15 +12.53%
Apollo Group Inc. (APOL) $19.71 +8.18%
Chesapeake Energy Corp. (CHK) $24.95 +7.08%
Sprint Nextel Corporation (S) $6.38 +7.05%
Teradata Corp. (TDC) $63.17 +6.85%
Lincoln National Corp. (LNC) $44.44 +6.65%
MetLife Inc. (MET) $51.47 +6.30%
Murphy Oil Corp. (MUR) $71.84 +6.08%
Sandisk Corp. (SNDK) $58.42 +5.99%
Mastercard Inc. (MA) $646.38 +5.86%

S&P 500 - Fallers
HCP Inc. (HCP) $42.08 -4.08%
Avon Products Inc. (AVP) $22.02 -3.67%
Autodesk Inc. (ADSK) $34.27 -3.16%
CME Group Inc. (CME) $72.17 -2.55%
First Solar Inc. (FSLR) $48.15 -2.17%
DIRECTV (DTV) $62.00 -2.02%
Boston Properties Inc. (BXP) $105.00 -1.82%
Phillips 66 Common Stock (PSX) $60.52 -1.59%
Ventas Inc. (VTR) $64.72 -1.55%
Monsanto Co. (MON) $97.37 -1.43%

Dow Jones I.A - Risers
American Express Co. (AXP) $75.63 +2.52%
Bank of America Corp. (BAC) $14.95 +2.40%
Hewlett-Packard Co. (HPQ) $26.23 +2.14%
Caterpillar Inc. (CAT) $84.44 +1.85%
Procter & Gamble Co. (PG) $81.64 +1.67%
United Technologies Corp. (UTX) $107.18 +1.53%
Boeing Co. (BA) $106.70 +1.52%
JP Morgan Chase & Co. (JPM) $56.54 +1.45%
E.I. du Pont de Nemours and Co. (DD) $58.45 +1.32%
AT&T Inc. (T) $35.72 +1.28%

Dow Jones I.A - Fallers
Exxon Mobil Corp. (XOM) $92.73 -1.09%
Intel Corp. (INTC) $23.20 -0.58%
Microsoft Corp. (MSFT) $31.67 -0.53%
Home Depot Inc. (HD) $78.64 -0.49%
Pfizer Inc. (PFE) $29.11 -0.41%

Nasdaq 100 - Risers
Catamaran Corp (CTRX) $57.03 +8.01%
Sandisk Corp. (SNDK) $58.42 +5.99%
Microchip Technology Inc. (MCHP) $41.69 +4.91%
Fossil Group Inc (FOSL) $114.09 +3.81%
Expeditors International Of Washington Inc. (EXPD) $41.68 +3.37%
Priceline.Com Inc. (PCLN) $904.35 +3.28%
Wynn Resorts Ltd. (WYNN) $137.44 +3.24%
Western Digital Corp. (WDC) $66.44 +3.20%
Starbucks Corp. (SBUX) $73.48 +3.07%
Regeneron Pharmaceuticals Inc. (REGN) $278.29 +3.05%

Nasdaq 100 - Fallers
Autodesk Inc. (ADSK) $34.27 -3.16%
Randgold Resources Ltd. Ads (GOLD) $72.65 -2.18%
DIRECTV (DTV) $62.00 -2.02%
Equinix Inc. (EQIX) $177.11 -1.25%
Whole Foods Market Inc. (WFM) $55.14 -0.79%
Intel Corp. (INTC) $23.20 -0.58%
Microsoft Corp. (MSFT) $31.67 -0.53%
Yahoo! Inc. (YHOO) $27.96 -0.46%
Garmin Ltd. (GRMN) $39.94 -0.35%
Automatic Data Processing Inc. (ADP) $71.85 -0.34%

BC

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