Newspaper article St Louis Post-Dispatch (MO)

Dow Flirts for 3rd Time with 3800 Mark

Newspaper article St Louis Post-Dispatch (MO)

Dow Flirts for 3rd Time with 3800 Mark

Article excerpt

U.S. stocks closed at record highs Wednesday for a third session amid more signs the economy is gaining momentum.

The Dow Jones industrial average rose 0.56 to an all-time high of 3794.33, led by a gain in Sears, Roebuck & Co., which added 1 7/8 to 53 5/8.

Shares of smaller stocks rallied for a fifth session, as the NASDAQ Composite Index gained 3.91 to 768.48, closing at its highest level since mid-November.

Stocks received a boost from the Commerce Department's report that its index of leading economic indicators, a key gauge of future economic growth, was up 0.5 percent in November.

Separately, the National Association of Realtors said sales of previously owned homes rose a stronger-than-expected 2.9 percent in November to a record 4.21 million annual rate.

A rally in software stocks buoyed the NASDAQ's gain. Oracle Systems Corp. rebounded 1/2 to 29 1/2 after losing 19 percent of its market value in the prior four sessions amid concern about slowing earnings growth. …

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