Dow hits another record

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Source: Dukascopy Bank SA
Dow Jones rose on Thursday and reached its highest level since 1896 when it was founded as the number of people who filed for unemployment benefits declined to a six-week low, indicating a recovery of the labour market. The sectors posting the biggest gains were industrials and financials by jumping 0.7% and 0.5%, respectively. The index surged 0.2%,or 33.25 points, to 14,329.49, beating its previous record of 14,296.24. 20 out of 30 leading American companies were up from Wednesday. Bank of America Corp. soared 2.9% as the financial institution passed stress test, outstripping the Fed's standards. Boeing Co, the largest aircraft manufacturer in the world, followed with a 2.5% increase. JPMorgan Chase & Co added 1.2%. Oil and gas and consumer services industries showed the biggest decline yesterday. Exxon Mobil Corp plunged 1% on company's announcement about this year's declining production and reducing the dividends per share. Merck & Co slipped 0.9% and Procter & Gamble Co followed with a 0.4% drop.

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Fri, 08 Mar 2013 12:54:03 GMT

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