Global manufacturing growth pushes market to all-time high

Evidence that global manufacturing is expanding pushed the stock market to an all-time high on Tuesday.

The Dow Jones industrial average climbed within two points of 17,000 for the first time after separate surveys showed that manufacturing expanded in the world’s two largest economies. In China, manufacturing grew in June for the first time in six months and in the U.S. the sector notched its 13th straight month of expansion.

The Standard & Poor’s 500 index rose 13.09 points, or 0.7 percent, to 1,973.32. The Dow Jones industrial average gained 129.47 points, or 0.8 percent, to 16,956.07. The Nasdaq composite rose 50.47, or 1.1 percent, to 4,458.65.

U.S. home prices rise but pace of gains slows in May

U.S. home prices rose in May compared with a year earlier, but the gains have slowed.

Data provider CoreLogic said Tuesday that prices increased 8.8 percent in May compared with 12 months earlier.

The pace of gains has slowed as more homes have come onto the market, according to CoreLogic.

On a month-to-month basis, prices rose 1.2 percent from April to May. But CoreLogic’s monthly figures aren’t adjusted for seasonal patterns, such as warmer weather, which can affect sales.

Southwest Airlines flies to Jamaica, Bahamas, Aruba

After four decades of expanding to all corners of the lower 48 states, Southwest Airlines flies into new territory on Tuesday – Jamaica, the Bahamas and Aruba.

Southwest is taking over routes flown by AirTran Airways, which it bought in 2011. The company plans to eliminate the AirTran brand by year end.

Southwest Flight 1804 left Baltimore-Washington International Airport on Tuesday morning on the airline’s first overseas flight to Oranjestad, Aruba. After the first three international destinations, it will add service next month to Cancun and Los Cabos in Mexico, and will start flying to Mexico City and Punta Cana in the Dominican Republic in November.

Twitter hiring Goldman Sachs executive as CFO

Twitter is hiring a Goldman Sachs executive as its new chief financial officer, continuing a shake-up that has led to the departures of several executives in recent months.

The social media company said in a regulatory filing Tuesday that it hired Anthony Noto, 46, to replace current CFO Mike Gupta, who steered Twitter through its initial public offering in 2013.

Gupta will stay on at Twitter, taking on the role of senior vice president for strategic investments.

– From news service reports

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