Stocks Climb; Dow Nears Another Record
Posted in the Minneapolis Forum
Saint Louis, MO
#1 Dec 25, 2013
NEW YORK—U.S. stocks rose after strong economic data, with the Dow Jones Industrial Average on pace to notch the most record closes in a year since 1995.
Prices of Treasury bonds fell after the stronger-than-expected data, with the benchmark 10-year note hitting 2.982%, the highest level in more than three months. Bond yields rise as prices fall.
The Dow extended gains, increasing 49 points, or 0.3%, to 16344. If the Dow ends the day higher, it will mark the 49th record finish of the year, the most since 1995 when the blue chips saw 69 record closes.
The S&P 500 rose five points, or 0.5%, to 1833, with materials and telecommunications stocks leading gains in nine of 10 sector groups. The Nasdaq Composite Index added five points, or 0.1%, to 4154.
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