New York: The Nasdaq composite index closed above 4,000 on Tuesday for the first time since 2000, while the Dow and S&P ended barely changed.

Retailers and homebuilders were among the best performing sectors, responding to stronger-than-expected earnings and robust housing market data.

Big-cap technology stocks helped the Nasdaq the most on Friday to finish above 4,000 for the first time since the dot-com bubble burst in 2000 and sent the tech-heavy index hurtling.

Tiffany & Co(TIF.N) jumped 7 percent to USD 88.02 and was the S&P 500’s top performer after the luxury retailer’s third-quarter sales topped expectations. The S&P retail index advanced 0.9 percent.

“The wealth effect because the stock market has gone up has definitely helped the upper-end folks,” said Gary Bradshaw at Hodges Capital Management in Dallas, Texas.

Moreover, Bradshaw said gasoline prices were giving a potential boost to broad-based holiday spending. Wal-Mart Stores Inc (WMT.N) shares rose 0.3 percent to close at an all-time high of USD 80.86 a day after the retailer named a new chief executive.

Jos. A. Bank Clothiers Inc surged 11.2 percent to USD 56.29 after Men’s Wearhouse(MW.N) offered to buy the company for USD 55 per share in cash, a 9 percent premium to its Monday close. Men’s Wearhouse jumped 7.5 percent to USD 50.60.

For more: Zeenews.com

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