US STOCKS-Dow, S&P 500 end at record highs; BoJ move adds fuel to rally

viernes 31 de octubre de 2014 17:22 GYT
 

* Exxon, Chevron among biggest boosts after earnings

* GoPro rallies after forecast

* Indexes up: Dow 1.1 percent, S&P 500 1.2 percent, Nasdaq 1.4 percent (Updates close with latest volume, details)

By Caroline Valetkevitch

NEW YORK, Oct 31 (Reuters) - The Dow and S&P 500 ended at record highs on Friday and other indexes posted strong gains for a second week after the Bank of Japan's surprise move to ramp up its stimulus program.

Major indexes also posted gains for the month, putting in a sharp recovery from their recent selloff that almost drove the S&P 500 into correction territory. The benchmark index is now up 8.4 percent from its Oct. 15 low and up 9.2 percent for the year so far.

The Nasdaq finished at its highest since March 2000, while for the week the Dow rose 3.5 percent, its best percentage weekly gain since January 2013. The S&P 500 posted its best two-week gain since December 2011.

The day's gains were broad, with the benchmark S&P 500 index posting 126 new 52-week highs and the Nasdaq recording 229 new highs. Shares of Exxon Mobil, up 2.4 percent at $96.71, and Chevron, up 2.3 percent at $1119.95, were among the biggest positives for the Dow and S&P 500 after they reported stronger-than-expected results.

"The market technically went from violating moving averages to making new highs, and you get this surprise move out of the Bank of Japan, which is giving a little tailwind to the rally," said Eric Kuby, chief investment officer at North Star Investment Management Corp. in Chicago.   Continuación...