Nasdaq rises to record high on Fed interest rate hint

Joe Hall
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The Nasdaq rose 68 points on Thursday (Source: Getty)

The Nasdaq closed at a record high on Thursday, rising 68 points to 5,132.95.

Read more: Nasdaq hits a record high as US stocks rise

The 1.3 per cent rise was triggered by encouraging economic data released by the Federal Reserve yesterday which indicated interest rates could be raised for the first time since 2008 later this year.

Unperturbed by the deteriorating situation between Greece and its creditors, investors were buoyed by economic data which showed a small increase in inflation and decrease in unemployment, with claims dropping by 12,000 to a seasonally adjusted 267,000.

Meanwhile, the Dow Jones index closed up 180 points to 18,115.

Martha Stewart Living Omnimedia, the firm behind the Martha Stewart publishing and homeware brands, was one of the market's best performers, rising 27 per cent on a report that the company is subject to a takeover bid from Sequential Brands.

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