Newspaper article St Louis Post-Dispatch (MO)

Stocks Ride Wave of Optimism to Records

Newspaper article St Louis Post-Dispatch (MO)

Stocks Ride Wave of Optimism to Records

Article excerpt

Stocks rose to records Tuesday as continued optimism for profits overshadowed rising interest rates.

The Dow industrial average dug its way out of a 54.7-point hole to rise 33.48 to 6600.66, its first close above 6600 and second record in a row.

Among St. Louis stocks, Emerson Electric Co. rose 2 to 100 5/8. Maverick Tube Corp. rose 1 5/8 to 14 3/4. Leading the Dow industrials, American Express Co. rose 2 1/2 to 57 5/8. A single trade of 1 million shares at the session's opening raised speculation that an investor was amassing shares for a takeover bid. Donaldson Lufkin & Jenrette Securities Corp. added the company to its list of recommended stocks, helping boost the shares. The Nasdaq composite index rose 11.33 to 1327.73, its second record c lose this year, led higher by an all-time high in Intel Corp., the No. 1 maker of computer chips. Intel rose 4 1/2 to 143 3/8. The Standard & Poor's 500 index rose 5.58 to 753.23, after falling 5.47 earlier. …

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