The stock market continued its upward climb Thursday to build upon its already historic year of gains.
Orders for durable goods climbed more than forecast in November, showing broad-based gains that signal U.S. business investment is recovering after a third-quarter lull.
U.S. stocks rose, with benchmark indexes extending all-time highs, as Apple Inc. (AAPL) rallied and the International Monetary Fund (IMF) indicated it would raise its outlook for the U.S. economy.
John-Paul Smith, a Deutsche Bank AG equity strategist, warns that he detects some of the same signs of a financial meltdown in China that led him to predict Russia’s 1998 stock market crash months in advance.
The U.S. economy expanded in the third quarter faster than previously estimated as consumers boosted spending on services such as health care and companies invested more in software.
Gold closed at its lowest price in three years in response to the the Federal Reserve’s announced plan to begin tapering its monetary stimulus.