Dow Continues Winning Streak – Acadiana Business Index
- The Dow Jones Industrial Average gained 50 points to 14,447 after being down by as many as 23 points in early action. The S&P 500 advanced 5 points to 1556 and the NASDAQ added nearly 9 points to end at 3253. The NASDAQ was even on issues.
- Despite a sluggish start, stocks extended their recent winning streak, sending the Dow to new all-time highs and the S&P 500 to within 1% of its best level.
- All 10 sectors on the S&P ended higher, led by gains in financials. Genworth Financial rose 6.7% to $10.50 following a positive article in Barron’s over the weekend. Also in the space, Citigroup added 2% to $47.60 after the stock received an analyst’s upgrade. On the earnings front, Dick’s Sporting Goods gave up 10.9% to $45.11 following a weaker-than-expected fourth-quarter earnings report. In other news, Blackberry rallied 14.1% to $14.90 after the phone maker announced its new smartphone would be offered through AT&T before the end of the month.
- Composite volume on the NYSE was 3 billion shares with advancing issues besting decliners by a 9-8 margin.
- Turning to fixed income markets, Treasuries ended lower along the curve. The benchmark 10-year note was down 5/32 to yield 2.06% and the 30-year bond fell 1/4 of a point to yield 3.26%.
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