NEW YORK Matt Hunwick Jersey , Aug. 26 (Xinhua) -- U.S. stocks drifted higher midday Tuesday, propelling the S&P 500 and the Dow Jones Industrial Average to new record highs amid generally positive economic data.
At midday, the Dow Jones Industrial Average jumped 52.24 points, or 0.31 percent, to 17 Matt Cullen Jersey ,129.11. The S&P 500 gained 4.34 points, or 0.22 percent, to 2,002.26. The Nasdaq Composite Index added 11.52 points, or 0.25 percent Mark Recchi Jersey , to 4,568.87.
The broader S&P 500 hit 2,005.04 points in the morning session, another all-time intraday high above 2,000 points after it crossed above the psychologically important level for the first time in intraday trading Monday.
The blue-chip Dow also rose to a record high of 17 Mario Lemieux Jersey ,153.80 points, eclipsing its previous intraday record of set on July 17.
On the economic front, new orders for manufactured durable goods in July skyrocketed 22.6 percent, boosted by a 318-percent surge in orders for commercial aircraft, said the U.S. Commerce Department Tuesday. The increase was the biggest since 1992 and far exceeded analysts' expectations.
U.S. consumer confidence Larry Murphy Jersey , which reached the highest level since October 2007 in July, improved further in August, the New York- based research group Conference Board said. The Conference Board Consumer Confidence Index climbed to 92.4 in August from 90.3 in July, beating market expectations.
U.S. home prices continued to rise in June but at a slower pace, according to a survey released Tuesday by S&P Dow Jones Indices for its S&PCase-Shiller Home Price Indices.
Another report by the Federal Housing Finance Agency showed that U.S. house prices rose 0.8 percent in the second quarter Kris Letang Jersey , representing the twelfth consecutive quarterly price increase in the purchase-only, seasonally adjusted House Price Index.
Robust merger and acquisition deals gave additional support for the market. Burger King on Tuesday confirmed that it plans to acquire Canadian coffee-and-doughnut chain Tim Hortons for about 11 billion U.S. dollars to create the world's third largest quick service restaurant company. Billionaire investors Warren Buffett is reportedly helping finance the deal.
Jeremy Siegel, professor at the Wharton School of the University of Pennsylvania, told CNBC Tuesday that he thinks the bull market still has room to run thanks to strong economic numbers and the second quarter earnings. According to him, the Dow is on track for 18 Justin Schultz Jersey ,000 points by year end and he wouldn't be surprised if the blue-chip index reaches 19,000.