Investing.com - Solid German factory data and better-than-expected earnings sent the Dow Jones Industrial Average closing over 15,000 for the first time ever and also sent the S&P 500 closing at a record high.
At the close of U.S. trading, the Dow Jones Industrial Average finished down 0.58% at 15,056.20, the S&P 500 index rose 0.52% to close at 1,625.96, while the Nasdaq Composite index rose 0.11% 3,396.63.
Official data released earlier showed that German factory orders climbed 2.2% in March, defying expectations for a 0.5% decline.
Year-over-year, German factory orders fell 0.4% in March, much better than forecasts for a 2.9% decline.
The news sparked demand for risk-on asset classes, with stocks serving as the market of choice.
U.S. stocks also rose on sentiments that prices still have room to rise due to loose monetary policies currently in place worldwide, even if such measures begin unwinding later this year or early next.
Monetary stimulus tools such as the Federal Reserve's monthly USD85 billion bond-buying program tend to weaken the dollar to spur recovery and make stocks attractive investments.
Better-than-expected earnings from companies such as DirecTv and Fossil Inc. also fueled demand for U.S. stocks.
Profit-taking involving technology stocks capped gains somewhat.
Leading Dow Jones Industrial Average performers included Caterpillar, up 2.53%, JPMorgan Chase, up 2.01%, and Verizon Communications, up 1.65%.
The Dow Jones Industrial Average's worst performers included Cisco Systems, down 2.11%, Microsoft, down 1.33%, and Hewlett-Packard, down 0.68%.
European indices, meanwhile, finished higher.
After the close of European trade, the EURO STOXX 50 rose 0.67%, France's CAC 40 rose 0.37%, while Germany's DAX 30 finished up 0.86%. Meanwhile, in the U.K. the FTSE 100 finished up 0.55%.
At the close of U.S. trading, the Dow Jones Industrial Average finished down 0.58% at 15,056.20, the S&P 500 index rose 0.52% to close at 1,625.96, while the Nasdaq Composite index rose 0.11% 3,396.63.
Official data released earlier showed that German factory orders climbed 2.2% in March, defying expectations for a 0.5% decline.
Year-over-year, German factory orders fell 0.4% in March, much better than forecasts for a 2.9% decline.
The news sparked demand for risk-on asset classes, with stocks serving as the market of choice.
U.S. stocks also rose on sentiments that prices still have room to rise due to loose monetary policies currently in place worldwide, even if such measures begin unwinding later this year or early next.
Monetary stimulus tools such as the Federal Reserve's monthly USD85 billion bond-buying program tend to weaken the dollar to spur recovery and make stocks attractive investments.
Better-than-expected earnings from companies such as DirecTv and Fossil Inc. also fueled demand for U.S. stocks.
Profit-taking involving technology stocks capped gains somewhat.
Leading Dow Jones Industrial Average performers included Caterpillar, up 2.53%, JPMorgan Chase, up 2.01%, and Verizon Communications, up 1.65%.
The Dow Jones Industrial Average's worst performers included Cisco Systems, down 2.11%, Microsoft, down 1.33%, and Hewlett-Packard, down 0.68%.
European indices, meanwhile, finished higher.
After the close of European trade, the EURO STOXX 50 rose 0.67%, France's CAC 40 rose 0.37%, while Germany's DAX 30 finished up 0.86%. Meanwhile, in the U.K. the FTSE 100 finished up 0.55%.