News Column

Dow Closes at New High Despite Modest Gains

November 11, 2013

UPI Business News

economics rising market
The Dow reached yet another high-water mark in Monday trading (file photo)

The blue-chip Dow Jones industrial average closed at a record high Monday in New York, adding a modest 21.32 points to top its previous high water mark.

The Dow gained 0.14 percent to 15,783.10 points on what would otherwise by a little-noticed day of trading.

As it happens, MarketWatch noted, it was the 35th record high for the Dow this year. Routine gains, however, at any altitude, can bring out the doom and gloom crowd, who wonder out loud if a correction is not just around the next bend.

With no major economic reports released Monday, analysts attributed Monday's gains to momentum built into the market due to Friday's better-than-expected jobs report.

The Standard & Poor's 500 index also rose Monday, adding 1.28 points, or 0.07 percent, to 1,771.89. The Nasdaq closed at 3,919.79, gaining 0.56 points, or 0.01 percent.

On the New York Stock Exchange, 1.594 stocks advanced and 1,444 declined on volume of 2.5 billion shares traded.

In Japan, the Nikkei 225 index added 183.04 points, or 1.3 percent, to 14,269.84. The Shanghai composite index in China added 3.34 points, 0.16 percent, to 2,109.47.

In London, the FTSE 100 picked up 19.95 points, or 0.3 percent, to close at 6,728.37. The DAX 30 in Germany gained 29.58 points, 0.33 percent, to 9,107.86.

On currency markets, the euro traded lower at $1.3408 and the dollar climbed to 99.20 yen.

The price for a barrel of crude oil picked up 41 cents to close at $95.01 Monday on the New York Mercantile Exchange.

On the Comex division of the New York Mercantile Exchange, the price of gold dropped $3 to settle at $1,281.60 an ounce. Silver added 1.8 cents to hit $21.335.

Ten-year benchmark treasuries yielded 2.747 percent at the close of trading.

Copyright 2013 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

Original headline: Dow hits new peak with modest gains



Source: Copyright 2013 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.


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