S&P 500 Index Passes 1,700 Mark For First Time
Published On : 8/1/2013 9:08 AM
From : NPR
Categories : Business, Nation
The Standard & Poor's 500 index, the benchmark of America's largest corporations, surpassed 1,700 points for the first time Thursday. The rise is being tied to assurances from central banks in the U.S. and Europe that they would continue to bolster their economies, as well as a drop in U.S. jobless claims.
A chart shows the growth in the Standard & Poor's 500 index of large-capitalization U.S. stocks. The index passed the 1,700 mark for the first time Thursday.
"The S&P 500 has reversed course after pulling within 2 points of 1,700 three times in the past seven days," Bloomberg Businessweek reports. "The benchmark index is trading at 15.3 times estimated earnings, compared with an average valuation of 13.9 times profit over the past five years, according to data compiled by Bloomberg."
Here are the top 10 entities that are currently in the index:
Exxon Mobil Corp.
Johnson & Johnson
General Electric Co.
Procter & Gamble
Berkshire Hathaway B
Wells Fargo & Co.