Dow closes at all time high $DJI.I
- Published: 07 March 2013
- The Dow closed out the session at an all-time high after positive economic data again supported another move higher with the Dow surpassing the 2007 high
- A strong ISM non-manufacturing report led the rally with the Index rising to 56.0 to surpass the 55.0 consensus. A reading above 50.0 indicates sector expansion
- The Dow was led higher by Boeing and United Technologies while the strongest gains in the S&P500 were in the technology and industrials space
- Qualcomm rose 2.01% after the chipmaker increased their dividend by 40% to 35 cents per share and announced a USD5.0 Billion buyback of company stock
- Google rallied 2.08% to another all-time high after a broker upgrade from Jefferies
- JC Penny led the laggards on the S&P500 by falling 10.63% after major shareholder Vornado reportedly is selling 10 million shares of the department store giant
- DOW +0.89%, S&P500 +0.96% and NASDAQ +1.32%
- The US Dollar Index weakened later in the session on equity strength
- Gold managed to rise 0.2% while Oil rallied 0.7% for the first time in four sessions
