Wall Street indexes high on confidence

The Standard & Poor’s 500 Index closed yesterday at its highest level in five years in light of recent big tech retail companies Office Depot and OfficeMax negotiating a merger, showing off signs of high confidence among investors and consumers alike.

Also on Wall Street, the Nasdaq rose to its highest level in 12 years, climbing about 100 points, or .66 percent on the day, also reflecting a revival in consumer confidence the market has been lacking in recent years.

According to Bloomberg, the S&P 500 Index surged 0.7 percent to 1,530.94 at the close of the market in New York. The Dow Jones Industrial Average increased 53.91 points, or 0.4 percent, to 14,035.67. Both indexes closed at their highest levels since October 2007.

The S&P 500 Index is an price index compiled by 500 of the United States’ leading companies that rises and falls based on a number of economic indicators.

About David Hood

David Hood is a newspaper and print design enthusiast. He is proud to be the co-winner of the National Scholastic Press Association’s 2008 Design of the Year Award for Newspaper Design for his high school newspaper, Crimson, in Paso Robles, Calif. After serving the Daily Titan as a Layout Editor, he traveled to Washington, D.C. to the Washington Journalism Center where he interned as a business reporter at The Washington Times and garnered 20 bylines, four on its front page. He hopes to rekindle people’s interest in news for better public discourse and understanding.