Dow and S&P indexes eke out another record
Traders work on the floor of the New York Stock Exchange at the end of the trading day on Thursday. The Dow closed at record high Thursday, up 169.26 points to close at 15,460.92. (July 11, 2013) Credit: Getty Images
It was another record day on Wall Street -- barely.
After spending most of Friday flat or down, stocks rallied at the last minute and closed slightly higher, just enough to post record highs for the Dow Jones industrial average and the Standard & Poor's 500 index.
The gains were tiny. And the record doesn't mean much for investors, who hardly have any more money now than they did a day earlier. But it is a sign that investors believe the market's rally this year may not be over yet.
Investors had to look past a pessimistic outlook from UPS, which said it was seeing a slowdown in U.S. industry. And in the afternoon, Boeing shares tanked -- closing down nearly 5 percent -- after one of its 787s caught on fire in London.
Profits at big banks Wells Fargo and JP Morgan came in better than expected, and that helped financial stocks.
The Dow closed up 3.38 points at 15,464.30. The Standard & Poor's 500 index rose 0.31 percent to 1,680.19. Both indexes also closed at all-time highs on Thursday.
The Nasdaq composite index edged up 0.61 percent to 3,600.08. It's still well short of its record high of 5,048, set in March 2000. -- AP
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Sarra Sounds Off, Ep.16: From Island to island, how football helped overcome tragedy Newsday's Gregg Sarra talks to Carey football player James McGrath about how he has persevered after losing his parents at a young age, and to the Lahainaluna (Hawaii) High School football coach about how his team persevered after the Maui wildfires of 2023, plus a behind-the-scenes look at the All-Long Island teams photo shoot.
