Dow Closes At All-Time High – Acadiana Business Index

Stocks were modestly higher on Monday. Mike Hunter has your stock market report on the Acadiana Business Index.

• The Dow was up 21 points to close at an all-time high of 15783. The S&P 500 gained a point to 1771. The NASDAQ rose less than a point to finish at 3919.
• The major averages were little changed amid a quiet trading session. There were no scheduled economic releases today to provide a catalyst for the market.
• On the earnings front, Arkansas Best rallied 15.4% to $30.80 after quarterly results topped consensus estimates. Shares of News Corp fell 1.0% to $17.42 ahead of its earnings release after the closing bell. Transocean gained 3.6% to $55.37 after the company came to an agreement with activist investor Carl Icahn to raise its annual dividend to $3 per share. Consumer discretionary and technology were the best performing groups. Retailer Best Buy rose 4.5% to $44.33. Shares of Yahoo! advanced 2.1% to $33.82. Telecom declined the most on the session with Verizon down $0.24 to $49.96.
• Breadth on the NYSE was even on issues and 11-9 positive on volume. NYSE Composite volume totaled more than 2.5 billion shares.
• The NASDAQ was even on issues and 6-5 positive on volume.
• Treasuries were unchanged as the bond market was closed in observance of Veterans Day. On Friday, the 10-year Treasury note fell more than a point to push its yield up to 2.75% following a better-than-expected nonfarm payrolls report.

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