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Market Update

Indexes on Wall Street Reach New Highs

Author: Nichole Harper
Last Update: 2:16 AM ET November 18 2014

5:00 PM New York – S&P 500 Index and Tollbooth Index jumped to record highs after a broad rally in market was led by healthcare stocks. Commodities traded mixed but crude oil fell 1.4% and gold gained 1.2%. Retailers were in focus after Home Depot reported better-than-expected earnings and Urban Outfitters missed estimates.

Stocks on Wall Street advanced and the S&P 500 index close at an all-time record high on a broad market rally.

Small cap stocks and healthcare sector stocks rebounded after a week of lacklustre trading and for the year the Tollbooth index has gained more than 9%.

In stock market trading, Tollbooth Index rose 0.2% or 15.28 to 9,832.36.

S&P 500 index increased 8.70 or 0.4% to 2,050.04 and the Nasdaq Composite Index gained 24.86 or 0.5% to 4,695.86.

In the year so far, the S&P 500 index is up 11%, and the indexes have made a slow but steady climb in November after a deep sell-off in two months to October.

U.S. Movers

The Home Depot, Inc (HD), the home improvement retailer reported sales in the third-quarter ending in September climbed 5.4% to $20.5 billion from a year ago period.

Net earnings in the quarter surged 7.1% to $1.5 billion or $1.15 a diluted share compared to $1.4 billion or 95 cents from a same quarter last year.

The company forecasted diluted earnings per share for the fiscal 2014 to grow by 21% to about $4.54 and intent to repurchase additional $1.26 billion of shares in the fourth-quarter.

TJX Companies Inc (TJX), the off-price apparel and home fashions retailer said net sales in the third-quarter ending in November 1 advanced 6% to $7.37 billion fro a year ago period. Comparable store sales in the quarter increased 2%.

Net income in the quarter dropped 4.4% to $595 million or 85 cents a diluted share compared to $622.6 million or 86 cents from a same quarter last year.

The retailer lifted diluted earnings per share guidance in the range of 86 cents to 90 cents, a 6% to 11% increase from last year’s 81 cents per share.

Comparable store sales to increase between 1% and 2% and merchandise margins to increase also.

European Markets

In London trading, FTSE 100 index gained 0.5% or 32.61 to 6,704.58 and in Frankfurt the DAX index climbed 1.5% or 137.82 to 9,444.17.

In Paris, CAC 40 index jumped 0.8% or 33.36 to 4,259.46.

In the European corporate news, Altice net loss widened and Carlyle and Cinven sold their stakes. AstraZeneca rose on long term outlook.

easyJet profit soared 13% to £450 million. Prudential new business profits in the third-quarter soared 17% to £1.5 billion. Wirecard acquired business assets from Visa.

Altice SA, the private equity firms Carlyle Group LP and Cinven Group Ltd sold 7.5 million shares valued at €341.3 million or $426 million in the company.

The company reported revenues in the third-quarter ending in September soared 133.8% to €832 million from €355.8 million a year ago period.

Net loss in the quarter widened from a year ago to €242.7 million compared to €69.2 million and diluted loss per share increased to €0.97 from €0.28.

easyJet Plc, the U.K.-based airline reported total revenue in the year ending in September climbed 6.3% to£4.53 billion from £4.26 billion a year ago period.

Net profit in the year soared 13.1% from a year ago to £450 million compared to £398 million and diluted earnings per share jumped to 113.2 pence from 100 pence.

Asian Markets

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc