Dow Nears Record as Confidence Climbs
Stocks advanced to multi-year highs Tuesday, as investors drew confidence from stronger-than-expected consumer confidence numbers despite a flurry of earnings warnings.
The Dow Jones industrial average rose 93.85 points, or 0.81%, to 11,669.39, a new six-year closing high and within 55 points of its all-time best of 11,722.98, reached Jan. 14, 2000. The broader Standard & Poor's 500 index added 9.97 points, or 0.75%, to 1,336.34, its highest close in five and a half years. The tech-heavy Nasdaq composite gained 9.97 points, or 0.55%, to 2,261.34, hampered by a revenue warning from chipmaker PMC-Sierra (PMCS).