Dow Breaks 14K, Briefly

Strong earnings, weak inflation boost markets
By Greg Atwan,  Newser User
Posted Jul 17, 2007 3:56 PM CDT
Traders work on the floor of the New York Stock Exchange on Tuesday, July 17, 2007. The Dow Jones industrial average swept past 14,000 for the first time Tuesday after a relatively tame inflation report...   (Associated Press)
camera-icon View 3 more images

(Newser) – The Dow shattered the 14,000 mark for the first time in its history today, floating 22 points above the milestone but dipping just before the bell to close at 13,971.55—still a 20.57-point gain. A projection of relatively docile inflation, combined with continued encouraging earnings reports from retail and technology, boosted the market broadly.

The Nasdaq climbed 14.96 to a less historic 2712.29, while the S&P fell for the second straight day, losing 0.15 to finish at 1549.37. Intel climbed 1.5% in advance of an earnings report that will show a 44% leap in profits; more modest projections buoyed Microsoft, while Coke and Johnson & Johnson shares lost value despite increased profits. (Read more Dow Jones stories.)