Dow Jones industrial average at record close Tuesday

May 7, 2013 at 5:42 PM   |   Comments

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NEW YORK, May 7 (UPI) -- Investors in New York pushed the blue-chip Dow Jones industrial average to a record closing high Tuesday, as a six-month rally continued.

The DJIA closed at more than 15,000 for the first time, ending the day at 15,056.20 points, up 87.31 or 0.58 percent. The Standard & Poor's 500 index, which breached the 1,600-point barrier for the first time Friday, added 8.46 points or 0.52 percent and closed at 1,625.96. The Nasdaq index added 3.66 points or 0.11 percent to 3,396.63.

On the New York Stock Exchange, 2,330 stocks advanced and 801 declined on a volume of 3.3 billion shares traded.

Analysts said money that was pulled out of equities during the recession is making a comeback with smaller investors returning to the market.

"Investors have played the worry game and those that have sat on the sidelines in cash are starting to question that, because this has been a pretty resilient market," global investment strategist at Wells Fargo Private Bank Sean Lynch told The Wall Street Journal.

Indicative of the market trend, it was the 17th consecutive Tuesday in which the DJIA rose.

The 10-year treasury note dropped 4/32 to yield 1.779 percent.

The U.S. dollar fell to 99.01 yen from 99.33 yen. The euro rose to $1.308 from Monday's $1.3076.

Gold was off, dropping $17.50 to $1,450.40 per troy ounce.

West Texas Intermediate crude oil closed lower, dropping 71 cents $95.45 per barrel.

On the Chicago Board of Trade, corn for July delivery added 3 cents to $6.39 1/2 per bushel. Soybeans for July gained 13 1/2 cents to $13.82 1/2. Wheat for July added 5 cents to $7.07 3/4.

Topics: Wells Fargo
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