May 7, 2013

Dow closes above 15,000 for first time

The Associated Press

(Continued from page 1)

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A specialist works at his post on the trading floor of the New York Stock Exchange on Tuesday. His screen shows the closing number for the Dow Jones industrial average, which topped 15,000 at the end of trading for the first time.

The Associated Press

click image to enlarge

A board on a trading post on the floor of the New York Stock Exchange shows the Dow Jones industrial average with an intraday number above 15,000 on Tuesday.

The Associated Press

Fossil stock leapt $8.92, or 9 percent, to $107.88 after the company said higher sales lifted its earnings.

DirecTV, the country's largest provider of satellite TV services, surged $3.99, or 7 percent, to $61.95 after its earnings beat analysts' expectations. The company reported more subscribers in the U.S. and Latin America.

For the Dow, it was the 17th straight Tuesday of increases. The only day of the week with a longer series of consecutive gains is Wednesday, which logged a streak of 24 in 1968, Detrick said.

In other trading, the Nasdaq composite rose 3.66 points to 3,396.63, up 0.1 percent. That's still a far cry from its dot-com era high of 5,048 from March 10, 2000.

Japanese stocks surged, pushing the Nikkei above 14,000 for the first time in nearly five years. The Nikkei has jumped 36 percent this year after the Bank of Japan announced a new aggressive monetary policy to get the country out of its two-decade stagnation.

In Europe, Germany's main DAX index touched a record of 8,195, bouyed by surprisingly strong industrial orders, before falling back slightly.

In the market for U.S government bonds, the yield on the 10-year U.S. Treasury note edged up to 1.78 percent from 1.76 percent in late Monday trading. Optimism over the U.S. economy has yanked the yield up over the past week, as traders shift money out of the safety of the Treasury market. The yield sank to its low for the year, 1.63 percent, last Thursday.

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