Dow Closes Above 23K for First Time

Technology companies lead markets higher
By Newser Editors and Wire Services
Posted Oct 18, 2017 3:17 PM CDT
A screen above the trading floor of the New York Stock Exchange shows the closing number for the Dow Jones industrial average, Wednesday, Oct. 18, 2017.   (AP Photo/Richard Drew)

(Newser) – Stocks are closing at record heights led by technology companies and banks amid a raft of quarterly earnings reports, the AP reports. The Dow Jones industrial average closed above 23,000 for the first time. IBM jumped 8.9% Wednesday after it reported stronger sales than investors expected. Drug and infant formula maker Abbott rose 1.3% after its third-quarter report. Health insurers climbed. Anthem jumped 2.4% after announcing a prescription benefits management deal with CVS Health. Video game publisher Electronic Arts fell 2.5% after delaying an upcoming "Star Wars" title. The Standard & Poor's 500 index rose 1.9 points or 0.1% to 2,561.26. The Dow rose 160 points or 0.7%to 23,157.60. The Nasdaq composite gained less than a point to 6,624.22. (Read more stock market stories.)

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