Stocks finish quarter with S&P at all-time high, Dow Jones t
Posted: Sat Mar 30, 2013 7:30 pmStocks finish quarter with S&P at all-time high, Dow Jones to 14,578.54
NEW YORK (MarketWatch) -- U.S. stocks rose on Thursday, with the S&P 500 index and the Dow industrials finishing at record highs, as portfolio managers and other investors looked to get into equities as the first quarter came to an end. "Share prices are validating what has already come through in the form of corporate profits - they are at all-time highs," said Mark Luschini, chief investment strategist at Janney Montgomery Scott. "It's all the rage to talk about it's Fed induced, and clearly the Fed has played a role in [the stock market's] recovery, but we're at 14 times forward earnings now, and that is not all that unreasonable," said Luschini, referring to the Federal Reserve's monetary policy. The Dow Jones Industrial Average rose 52.38 points, or 0.4%, to 14,578.54, up 11.3% for the quarter. The S&P 500 added 6.34 points, or 0.4%, to 1,569.19, leaving it up 10% for the three-month period. The Nasdaq Composite rose 11 points, or 0.3%, to 3,267.52, up 8.2% for the quarter.
NEW YORK (MarketWatch) -- U.S. stocks rose on Thursday, with the S&P 500 index and the Dow industrials finishing at record highs, as portfolio managers and other investors looked to get into equities as the first quarter came to an end. "Share prices are validating what has already come through in the form of corporate profits - they are at all-time highs," said Mark Luschini, chief investment strategist at Janney Montgomery Scott. "It's all the rage to talk about it's Fed induced, and clearly the Fed has played a role in [the stock market's] recovery, but we're at 14 times forward earnings now, and that is not all that unreasonable," said Luschini, referring to the Federal Reserve's monetary policy. The Dow Jones Industrial Average rose 52.38 points, or 0.4%, to 14,578.54, up 11.3% for the quarter. The S&P 500 added 6.34 points, or 0.4%, to 1,569.19, leaving it up 10% for the three-month period. The Nasdaq Composite rose 11 points, or 0.3%, to 3,267.52, up 8.2% for the quarter.