Dow Hits Another Record —17th for the Year

By J. Kelman,  Newser User
Posted May 2, 2007 4:43 PM CDT
Dow Hits Another Record —17th for the Year
Nicholas Orlando, foreground, of Van der Moolen Specialists points to a monitor above the floor of the New York Stock Exchange, Wednesday, April 25, 2007 in New York. The Dow Jones industrial average shot past 13,000 for the first time, powered by better-than-expected corporate earnings that boosted...   (Associated Press)

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. (Read more Dow Jones stories.)

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