Dow Hits Record Close 6th Time in a Row

Energy companies push index to 19,796
By Newser Editors and Wire Services
Posted Dec 12, 2016 3:09 PM CST
Dow Hits Record Close 6th Time in a Row
This Tuesday, Oct. 25, 2016, photo shows the New York Stock Exchange, in lower Manhattan. Stocks fell on Monday, Dec. 12, 2016, ahead of a Federal Reserve meeting that is expected to raise U.S. interest rates, while oil prices jumped after several non-OPEC countries agreed to join the cartel in cutting...   (Mary Altaffer)

Stocks are closing mostly lower on Wall Street, but energy companies rose along with the price of crude oil, and the Dow Jones found its sixth consecutive record close, reports Marketwatch. Gains in Exxon Mobil and Chevron nudged the Dow Jones industrial average to another record Monday, reports the AP, but other indexes declined as media companies, banks, and technology stocks lost ground. Viacom plunged 9% after merger talks with CBS were called off by the controlling shareholder of both companies.

Crude oil jumped 3% after oil-producing countries outside of OPEC agreed to reduce output. The Standard & Poor's 500 index slipped 2 points, or 0.1%, to 2,256. The S&P 500 is coming off its sixth straight gain. The Dow climbed 39 points, or 0.2%, to 19,796. The Nasdaq composite lost 31 points, or 0.6%, to 5,412. (Read more stock market stories.)

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