Good news for your 401(k): Dow, S&P reach new highs

   July 11, 2013 1:47 pm

 

The Dow Jones industrial average and Standard & Poor’s 500 surged to all-time highs today. And the yield on the 10-year Treasury note continued to decline as investors bought bonds.
Some stocks of local interest rode the wave: General Electric Co. rose 40 cents a share to $23.94; Erie Indemnity jumped 82 cents a share to $80.40; and FirstEnergy Corp. climbed 53 cents a share to $37.34. Among the losers yesterday: banks. PNC, First Niagara and F.N.B. all lost ground.
The S&P 500 index jumped 22.40 points, or, 1.4 percent, to 1,675.02, surpassing its previous record close of 1,669 from May 21. The index rose for a sixth straight day, its longest streak in four months.
The Dow rose 169.26 points, or 1.1 percent, to 15,460.92, above its own all-time closing high of 15,409 set May 28.
The Nasdaq composite rose 57.55 points, or 1.4 percent, to 3,578.30.

 

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