S&P 500 Hits New Highs as Trader Semtiment Remains Strong

April 29, 2013 2:13 PM EDT
The S&P 500 is at record levels again Monday. After closing at 1,593.37 on April 11th, the index is up about 14 points to over 1,596.14. The intraday high for the index today is 1,596.47.

Not that the other two major U.S. indices are having a rough ride. The Dow Jones Industrial Average is up past its all-time high close of 14,865.14 on April 11th, while the Nasdaq is up past its April 11th closing high of 3,300.16, trading in the highest range its seen since 2000.

ETFs to track the indices include SPDR S&P 500 (NYSE: SPY), SPDR Dow Jones Industrial Average (NYSE: DIA), and PowerShares QQQ (Nasdaq: QQQ).

Miscellaneous items affecting markets today include strong pending home sales (up 1.5 percent, versus 0.1 percent consensus), personal spending topping views by 0.1 point, and Italy forming a government two-months following elections. Data also has about 69 percent of the S&P 500-listed companies topping Q1 consensus EPS expectations, with 43 percent also beating on the top line.

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