On Monday the major indexes were mixed with minor deviations from last week’s closing values, as investors have some concern over the rise in costs companies are experiencing. The S&P 500 hit a nearly 3-year high on Tuesday on positive earnings reports from 3M, Ford Motor, Caterpillar, and Cummins. Wednesday was a landmark day for several of the major indexes. The small-cap Russell 2000 became the first major index to recover all of its losses from the 2008-2009 stock decline to close the day at an all-time high. The NASDAQ closed at its highest mark since 2000, and the S&P 500 closed at a mark more than twice its low mark in March 2009. Continued positive earnings reports coupled with the Federal Reserve’s plan to not raise interest rates in the near future propelled stocks up once again on Thursday. The trading month ended on Friday with another gain for stocks, as optimism in the recovering US economy continues to swell. The small-cap Russell 2000 is now 152% above its low set in 2009.
Once again, it was a good week for stocks.
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