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Dow Climbs to Record, Poised for Best Year Since 1996

The Dow Jones Industrial Average rose, reaching an all-time closing high and headed toward its biggest annual gain since 1996, as Walt Disney Co. led a rally in consumer shares.

Walt Disney jumped 2.5 percent, the most in the Dow and the Standard & Poor’s 500 Index, after an analyst upgrade. Crocs Inc. rose 21 percent after saying its chief executive officer will retire and Blackstone Group LP will invest $200 million in convertible preferred stock in the maker of colorful plastic clogs. Twitter Inc. fell 5.1 percent, extending losses after a 13 percent drop on Dec. 27. Facebook Inc. declined 3.1 percent, retreating for the third straight trading session.