US stocks hit two-month high

The S&P 500 climbed to a two-month peak last night, closing at its highest level since early May.

The index - boosted by the latest round of corporate earnings - rose to 0.3% or 3.73 points, to 1,376, its highest level since 3 May. Gains came following a series of earnings reports, including from IBM, eBay and Intel, which exceeded analysts' expectations and overshadowed disappointing US economic data showing rising jobless claims and falling home sales. Late last night behemoth tech companies Microsoft and Google also reported, with Microsoft reporting its first ever loss since floating. Other markets also closed higher, with the FTSE 100 up 0.5% to 5,714, and the German Dax u...