Dow Sets Another Record

S&P 500, Nasdaq also close higher
By Newser Editors and Wire Services
Posted Oct 24, 2017 3:08 PM CDT
Traders Robert Charmak, left, and Gregory Rowe work on the floor of the New York Stock Exchange, Tuesday, Oct. 24, 2017.   (AP Photo/Richard Drew)

(Newser) – US stocks are closing higher as Caterpillar and 3M lead a rally in industrial companies sparked by strong third-quarter reports, the AP reports. Caterpillar reported better-than-expected third-quarter results and jumped 5% Tuesday. Post-it note maker 3M gained 5.9%. Both raised their annual forecasts. Whirlpool tumbled 10.5% after it reported weak quarterly earnings and cut its annual profit forecast. Health care companies weakened. Drugmaker Biogen fell 4% and Eli Lilly lost 2.3%. The Standard & Poor's 500 index added 4 points, or 0.2%, to 2,569. The Dow Jones industrial average picked up 168 points, or 0.7%, to 23,441, a new record. The Nasdaq composite advanced 12 points, or 0.2%, to 6,598. (Read more stock market stories.)

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