Dwo touches another high
(03-07 09:20)
The Dow pushed to fresh highs yesterday one day after notching an all-time record, even as the Federal Reserve said economic growth continued at a dull pace.
The Dow Jones Industrial Average rose 42.47 points (0.30 percent) to 14,296.24, a new all-time high.
The broad-based S&P 500 edged up 1.67 (0.11 percent) to 1,541.46, while the tech-rich Nasdaq Composite Index declined 1.77 (0.05 percent) to 3,222.37, AFP reports.
The market gains came despite a mixed report on US economic conditions from the Federal Reserve.
Among Dow components, the biggest gainers included Bank of America (up 3.2 percent), Alcoa (up 2.6 percent) and Cisco Systems (up 2.3 percent).
Hewlett-Packard, also a Dow component, rose 2.8 percent on reports of fresh shareholder pressure to revamp the computer maker's board and possibly top management.
Another Dow member, Exxon Mobil, dropped 0.1 percent after signaling 2013 production would drop 1 percent from the 2012 level.
Staples increased its quarterly dividend, but sank 7.2 percent after reporting quarterly revenues and full-year 2013 earnings guidance that missed expectations.
American Eagle Outfitters plummeted 10.1 percent after signaling that first-quarter earnings would be lower than last year's levels.
Bond prices fell. The yield on the 10-year Treasury rose to 1.94 percent from 1.89 percent late Tuesday, while the yield on the 30-year roe to 3.15 percent from 3.10 percent. Bond prices and yields move inversely.
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