Belfast Telegraph

Wednesday 23 April 2014

US stocks: best for 20 years

Traders are using good news about the US economy to give the stock market its best July in 20 years.

Stocks have tacked on moderate gains after the government said the economy shrank at a slower pace than expected in the April-June quarter.

Investors have been placing big bets this month that the longest recession since World War II is finally receding.

The Dow has finished the month with an 8.4 % gain - its strongest July since 1989, when it gained 9%. It's the blue chips' best performance of any month since October 2002.

According to preliminary calculations, the Dow is up 17 to 9,171. The Standard & Poor's 500 index is up just shy of a point to 987 and the Nasdaq is down 5 to 2,978.