Dow inches up to its record high on Tuesday

Source: Dukascopy Bank SA
Dow Jones Industrial Average reached a record high level on growing optimism about central banks and China's pledge to maintain the growth target. The Dow climbed 0.9%, or 125.95 points, to 14,253.77, beating its previous highest level at 14,164.53. 27 out of 30 blue chip companies edged higher. Cisco Systems jumped 2.3%, the most in the gauge, adding to gains in telecommunications group that was 1.14% higher, as the takeover of Splunk Inc. could lead to the highest price tag of the software industry in five years. The growth prospects of Splunk would help Cisco Systems to compete with other software companies, such as IBM. United Technologies Corp. rose 2.1% to $91.02, supporting a rise in industrial shares that were 1.4% up. Boeing Co followed with a 2% rally, also contributing to industrials group. Only two companies declined, as Coca-Cola slid 0.4% and Merck & Co lost 0.2%.
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Wed, 06 Mar 2013 15:03:03 GMT

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