Dow sets another record close
The Dow Jones industrial average inched to another record close today to mark the third week in a row of triple-digit increases in the blue chip index.
The Dow spent much of a quiet session in the red following a strong surge on Thursday in which the Dow broke through 11,900 for the first time to set closing and trading highs.
Thursday’s advance came amid optimism over the health of corporate earnings and put the Dow 12,000 benchmark within investors’ sights.
The index’s gain today marked the Dow’s sixth record close in two weeks. Stocks showed little overall movement as traders were unimpressed with a profit report from General Electric and after brokerages issued negative comments about Home Depot.
Oil prices, which have driven stocks as they have fallen in recent weeks, moved higher today, holding the major indexes to modest gains.
The Dow Jones industrial average rose 12.81, or 0.11%, to close at 11,960.51, passing the record close of 11,947.70 set on Thursday.
Broader stock indicators also advanced. The Standard & Poor’s 500 index was up 2.79, or 0.20%, at 1,365.62 and the Nasdaq composite index was up 11.11, or 0.47%, at 2,357.29.
