Stocks on the cusp of key milestones

  @CNNMoneyInvest November 15, 2013: 7:32 AM ET
sp 630

Click on chart for more premarket data.

NEW YORK (CNNMoney)

Stocks continue to run in record territory, and with just another little leg up, the three major indexes could surpass some big milestones.

The Dow Jones industrial average is closing in on 16,000, while the S&P 500 is inching toward 1,800, both of which would be reached for the first time. The tech-heavy Nasdaq is nearing 4,000, a level not seen since September 2000, just months before the collapse of the dotcom bubble. All three indexes are within 1% of the psychologically important mileposts.

Investors are likely still in a good mood Friday, a day after Federal Reserve chair nominee Janet Yellen told a Senate panel that she is determined to support the U.S. economic recovery, and believes the Fed's bond-buying program still has the power to help.

The central bank's $85-billion-per-month bond-buying program -- also known as quantitative easing or 'QE' -- has helped spur stocks by pumping markets with extra cash.

U.S. stock futures inched higher ahead of the open, after finishing a fresh record highs Thursday.

Related: Fear & Greed Index

Shares in Exxon Mobil (XOM, Fortune 500) were higher in premarket trading after it was revealed that Warren Buffett's Berkshire Hathaway (BRKA, Fortune 500) made a big bet on the company, buying roughly 40 million Exxon shares -- worth $3.74 billion at Thursday's closing price.

Credit rating agency Moody's downgraded four of the biggest U.S. banks, saying that it was now less likely the federal government would bail them out in the case of a crisis. Shares of the four - JPMorgan Chase (JPM, Fortune 500), Goldman Sachs (GS, Fortune 500), Morgan Stanley (MS, Fortune 500) and Bank of New York Mellon (BK, Fortune 500) -- were not yet trading early Friday. Moody's reaffirmed its ratings on four other major banks -- Bank of America (BAC, Fortune 500), Citgroup (C, Fortune 500), State Street (STT, Fortune 500) and Wells Fargo (WFC, Fortune 500), and their shares were either little changed or not yet trading.

European markets were mixed in midday trading, with London's FTSE 100 index edging higher while the main indexes in France and Germany moved slightly lower.

All the main Asian markets ended with solid gains. The main indexes in Tokyo, Hong Kong and Shanghai all pushed up by nearly 2%, in part bolstered by the dovish talk from Yellen. To top of page



Join the Conversation
Markets
Sponsored by
Index Last Change % Change
Dow 16,503.71 -10.66 -0.06%
Nasdaq 4,149.89 -11.57 -0.28%
S&P 500 1,877.19 -2.36 -0.13%
Treasuries 2.70 -0.03 -0.99%
Data as of 9:37am ET
Company Price Change % Change
Xerox Corp 11.59 0.12 1.05%
Peabody Energy Corp 17.31 -0.12 -0.69%
General Motors Co 34.23 0.25 0.74%
Fifth Third Bancorp 21.00 0.28 1.35%
Twenty-First Century... 32.80 0.21 0.64%
Data as of Apr 22
Overnight Avg Rate Latest Change Last Week
30 yr fixed4.28%4.26%
15 yr fixed3.30%3.30%
5/1 ARM3.35%3.30%
30 yr refi4.32%4.25%
15 yr refi3.35%3.29%
View rates in your area
 
Find personalized rates:
Rate data provided
by Bankrate.com
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.