The US stocks closed August at a strong note on Friday (August 29), with the S&P 500 setting a new record by posting a modest gain on closing day of the month amid the rising crisis in Ukraine and overseas concerns helped extend a rally.
The broad-market gauge jumped above 2,000, which it had scored for the first time on Tuesday, to finish at 2,003.37, up 6.63 points (0.33 per cent) on Friday.
August was the best month since February for S&P 500 after it witnessed the 32nd record close for the benchmark index. Both S&P 500 and Dow posted gains for straight four weeks.
The Nasdaq Composite increased to its best level in 14 years to 22.58 (0.50 percent) at 4,580.27, while the blue-chip Dow Jones Industrial Average jumped 18.88 points (0.11 per cent) at 17,098.45.
The news following NATO’s accusation against Russia, which is moving its 1,000 troops inside Ukraine to assist pro-Moscow rebels, had no real impact on the markets.
The market also remained unaffected by the news of Britain raising its terror threat level risk to “severe”. British Prime Minister David Cameron said that the Islamic State jihadist group is targeting Europe.
“The lack of activity during the week was a function of some participants being away on vacation, while many others opted to stick to the sidelines ahead of a three-day weekend in the US that could feature new developments on the geopolitical front,” according to Briefing.com.
European benchmarks closed higher after initially reporting sharp downfall following reports of Britain’s raised terror alert. FTSE 100 of London gained 0.2 percent to 6819.75, while Germany’s DAX rose 0.1 percent to 9470.17. On the other hand, French CAC-40 increased 0.3 percent to 4381.04.
Meanwhile, Asian stock performed mixed at the markets amid weak economic data showing Japan still battling to rebound from a sales tax hike.