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Stocks climbed back into record territory Thursday as investors were bullish on encouraging U.S. economic data. Today, positive reports on lower inflation numbers, stronger home sales and decreasing jobless claims. The S&P 500 gained 0.21%, the Dow rose 0.19% (both finishing at new closing highs) while the Nasdaq climbed 0.56%.On the flip side of domestic bullish economic news today was the survey of factory activity that came in from China. A preliminary survey of factory activity showed manufacturing in the world’s second-largest economy slid to a 6-month low. The Hang-Seng index dipped 0.1% on the day.
In tech, shares of Apple gained $1.90 or 1.7% today, to close at an all-time high of $116.57. Much of the buzz around Wall Street today centered around whether or not the stock will hit the $118.54 18-month price target, which is the current Wall Street estimate.
Analysts’ targets have historically proven to be too conservative on the stock. Of course, billionaire Carl Icahn had to chime in today, saying that the stock is worth more than $200 a share — essentially saying the Wall Street analysts that follow the stock are wrong. Soon we will find out will Apple become the first trillion dollar company.
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