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Market Snapshot: Dow Sets New Record for Second Straight Day »

Market Snapshot: Dow Sets Record Close

The Dow Jones Industrial Average gained 72 today to close higher than ever before, at 12,514.

25 of the 30 stocks in the index were up on the day, with tech stocks Intel (INTC), Hewlett Packard (HPC), and Microsoft (MSFT) leading the way.

Lower oil prices and overall commodities costs have largely been seen to fuel the rally, but the first earnings reports of the year (spearheaded by Alcoa’s 60% rise in year-over-year quarterly profits) have been very promising.

The Nasdaq closed at 2,484, its highest level in six years. Aside from the usual tech suspects, pharmaceutical giants Genentech (DNA), Astrazeneca (AZN), and Bristol-Myers-Squibb (BMY) reacted strongly to positive news.

This entry was posted on Thursday, January 11th, 2007 at 7:12 pm and is filed under Stock Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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