Strong factory orders and media-buyout mania helped push the Dow to another record high, closing at 13,211. The index jumped 76 points, riding news of yesterday's News Corp. offer for Dow Jones and Co. and today's Cablevision deal, as well as a better-than-expected March bump in factory orders.
The S&P 500 and the Nasdaq also gained. But investors are still nervous about overall economic growth trends. "The market has become very sensitive to every minor and major economic release," says Eliot Spar, strategist at Ryan, Beck & Co.