Dow Closes at an All-Time High on Profits and Service Sector Reading (JCP, HPQ)

The Dow soared past its previous record high in October 2007 on Tuesday, led by market front-runners such as Hewlett-Packard (HPQ), TripAdvisor Inc. (TRIP) and Sears Holding Corp (SHLD). The tech industry also had a good day with shares of Qualcomm (QCOM) and Apple (AAPL) jumping higher.
JC Penney (JCP) on the other hand slid 10% on talks that the company may be pushing out CEO Ron Johnson. A report was released in the US stating that the services sector expanded in February to 56.0, beating prior expectations for 55.0. Euro zone ministers have reached a deal regarding Cyprus for a bailout at the end of March. Oil finished higher after three sessions of declines while the dollar trimmed losses from earlier by the close of the bell.

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Published on Mar 5, 2013
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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