The S&P 500 index surpassed the 1300-point level twice today, the first time the index reached that plateau since August, 2008, as U.S. stocks finished slightly up today on mixed earnings reports.
The S&P 500 edged up 0.22 percent, closing at 1,299.54, while the Dow Jones Industrial Average, which broke 12,000 points four times throughout the day, climbed 0.04 percent. The Nasdaq rose 0.58 percent, while the 10-year bond yield was down slightly as S&P reported that it was lowering its rating on Japanese debt.
Commodities got hit hard today, as oil dropped 2 percent on higher-than-expected jobless claims in December, and on an announcement by Kuwait Petroleum Corp.’s CEO that oil production may have to be increased due to rising oil prices.
Gold fell 1.1 percent to $1,318.4, a four-month low, in the wake of a speech given by Europe Central Bank chief Jean-Claude Trichet at the World Economic Forum today in which he said major central banks are focused on holding inflation in check.
Procter & Gamble (NYSE: PG) dove 2.92 percent after reporting lower-than-expected sales growth in the fourth quarter, while AT&T (NYSE: T) shares fell 2.09 percent as it awaits a looming battle with Verizon (NYSE: VZ) for control of Apple’s mega-popular iPhone.
McDonald’s Corp. (NYSE: MCD) shares fell 1.09 percent on rising prices in the livestock futures, and Home Depot (NYSE: HD) rose 1.5 percent in the wake of a stronger-than-expected number of new U.S. home sales in December.