US Stock Markets Hit New Highs After Jet Deal

Written By Unknown on Senin, 18 November 2013 | 23.33

Stock market indexes are hitting new milestones on Wall Street, fuelled by a wave of new Boeing plane orders and continued positive investor sentiment for stocks.

The Dow Jones industrial average crossed 16,000 points for the first time early Monday and the Standard & Poor's 500 index crossed 1,800 points.

Stocks have been rising sharply this year as the US economy improves, companies report bigger profits and the Federal Reserve keeps up its easy-money policies.

The S&P 500 index has risen for six weeks straight and is up 26% so far this year.

But a growing number of market watchers are calling for caution after the steep rise.

Furloughed federal workers join a rally with Congressional Progressive Caucus to demand a vote to end the government shutdown, outside the U.S. Capitol in Washington US politicians appeared to act against the national interest in the impasse

Boeing rose the most of the 30 stocks in the Dow after the plane maker booked around $100bn (£62bn) in orders at the opening of the Dubai air show.

Meanwhile, foreign buyers of US Treasury securities increased their holdings in September, suggesting many shrugged off budget battles in Washington to keep investing in American debt.

Total foreign holdings rose 1% September to $5.65trn (£3.5trn), the Treasury Department said.

That followed a 0.03% gain in August.

Holdings had fallen from April through July, possibly reflecting concerns about rising interest rates.

In September, holdings were 1.2% below the record high of $5.72trn reached in March.

China, the largest foreign buyer of Treasury debt, boosted its holdings 2% in September to $1.29trn.

Japan, the second-largest buyer, increased its holdings 2.5% to $1.18trn.

An impasse over the budget led to a 16-day partial shutdown of the federal government in October.

Politicians did not reach an agreement to raise the nation's borrowing limit until October 16 - one day before a deadline that, if compromised, would have increased the risk of a default on US debt.


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