Stocks gain for seventh day on hopes of quick war
Wall Street has posted a seventh straight day of gains as investors remained hopeful the US-led war with Iraq would be quick and successful.
The Dow closed up 21.15, or 0.3%, at 8,286.60, having been off 134 earlier in the session.
The Nasdaq composite index gained 5.69, or 0.4%, to 1,402.76. The Standard & Poor's 500 index rose 1.82, or 0.2%, to 875.84.
A pair of mixed reports on jobless claims and economic activity, meanwhile, had little discernible effect on investors.
Viacom increased 1.94 to 40.84 after the media company announced a new contract with president and chief operating officer Mel Karmazin that will keep him for three more years.
Nike rose 2.77 to 52.85 after the company said sales improved and earnings remained flat, which was in line with analysts' expectations.
But AMR, parent of American Airlines, fell on worries that a war will dampen travel. It dropped 9 cents to 1.75.
Advancing issues outnumbered decliners more than 4 to 3 on the NYSE. Volume was moderate.
