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TMCNet:  US [Cape Times (South Africa)]

[August 15, 2014]

US [Cape Times (South Africa)]

(Cape Times (South Africa) Via Acquire Media NewsEdge) STOCKS rose yesterday, sending the Standard & Poor's (S&P) 500 index to a two-week high, as speculation that the crisis in Ukraine would not escalate overshadowed weaker-than-estimated economic data.


The S&P 500 index rose 0.3 percent to 1 952 by 12.28pm in New York. The Dow Jones industrial average rose 0.2 percent to 16 690.

Store chain Kohl's added 3.4 percent to a four-month high after quarterly results beat estimates. Wal-Mart Stores lifted 0.1 percent after posting stagnant same-store sales and lowering its profit forecast, while network equipment maker Cisco Systems declined 2.7 percent after forecasting little to no sales growth. Class A shares in Warren Buffett's Berkshire Hathaway rose 0.9 percent to top $200 000 (R2.1 million) for the first time.

"The market is ebbing and flowing off of geopolitical news, it's been all quiet in the past 24 hours, and that has given a positive push to the market today," Chad Morganlander, a money manager at Stifel, Nicolaus, said." - Bloomberg Cape Times (c) 2014 Independent Newspapers (Pty) Limited. All rights strictly reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

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