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Dow Rises Further Into Record Territory

Index is up another 243 points
By Newser Editors and Wire Services
Posted Jul 12, 2019 3:04 PM CDT
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In this June 6, 2019, photo, specialist John Parisi, left, works with traders on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – The market continued its climb into record territory on Friday, as declines in health care stocks were offset by gains in technology, consumer discretionary, and industrial company stocks. The gains came a day after the Dow Jones Industrial Average closed above 27,000 points for the first time, per the AP. On Friday, the Dow rose another 243 points, or 0.9%, to 27,332; the Standard & Poor's 500 index rose 13 points, or 0.4%, to 3,013; and the Nasdaq rose 48 points, or 0.5%, to 8,244.

Investors remain focused on the Federal Reserve. The Fed is expected to cut its benchmark interest rate later this month for the first time in more than a decade to help counter slowing growth. Investors have bet heavily that the Fed is moving that direction, moving stock and bond yields higher in the last two weeks.

(Read more stock market stories.)

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