Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

Inside the Market

Up-to-the-minute insights
on developing market news

Entry archive:

Trader Michael Zicchinolfi works on the floor of the New York Stock Exchange, July 24, 2012. (Brendan McDermid/Reuters)

Trader Michael Zicchinolfi works on the floor of the New York Stock Exchange, July 24, 2012.

(Brendan McDermid/Reuters)

The close: S&P 500 nears highest close since 2008 Add to ...

Stocks rose on Friday, following a small gain in U.S. consumer confidence and putting the U.S. benchmark index close to its highest level in more than four years.

The Dow Jones industrial average closed at 13,275.20, up 25.09 points or 0.2 per cent. The broader S&P 500 closed at 1418.16, up 2.65 points or 0.2 per cent – or just one point shy of its April high. Any move above 1419.04 would put the index at its highest level since May 2008. In Canada, the S&P/TSX composite index closed at 12,089.89, up 57.31 points or 0.5 per cent.

More Related to this Story

The University of Michigan’s consumer confidence index rose to 73.6 in August, up from 72.3 in July – touching a three-month high. A reading on U.S. leading economic indicators for July, from the Conference Board, also topped expectations.

Apple Inc. rose 1.9 per cent, reaching a new record-high close of $648.11 (U.S.).

Facebook Inc. slid another 4.1 per cent, reaching a new post-initial public offering low of $19.05 a day after a number of early investors were given the go-ahead to sell their shares in the social media company. The shares have fallen nearly 50 per cent from their IPO price of $38.

Among commodities, crude oil rose to $96.01 a barrel, up 41 cents. Gold was essentially flat, closing in New York at $1,619.40 an ounce, up 20 cents.

Among Canadian commodity producers, Suncor Energy Inc. rose 1.2 per cent and Barrick Gold Corp. was unchanged.

 

For Globe Unlimited Subscribers

Business videos »

Most popular videos »

Highlights

Most Popular Stories