Dow and S&P Reach Record Closes
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iStock/Thinkstock(NEW YORK) — The Dow Jones Industrial Average and S&P 500 reached record closes on Friday.
The Dow soared just after Friday’s opening bell when China’s central bank cut a key interest rate. It closed up 88.94 points at 17,807.94.
The Nasdaq went up 11.10 points to 4,712.97, and the S&P went up 10.73 points to a record finish of 2,063.48.
The Labor Department says unemployment rates fell in 34 states in October– a sign that steady hiring is becoming the norm across most of the country.
Online streaming service Aereo filed for bankruptcy less than five months after an unfavorable ruling by the U.S. Supreme Court. The court said Aereo had been operating like a cable TV company, and unless it paid broadcasters licensing fees, it was in violation of copyright law.
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