Blue Chips Rally a Third Day
(NEW YORK) — The Dow Jones Industrial Average posted a third straight day of impressive gains. The Dow closed the session with another triple-digit gain at a session high, up 135 points at 15,326.60. On Tuesday, the Dow jumped 128 points, and it surged 141 points on Monday.
The S&P 500, a broader measure of the market, posted its seventh consecutive day of gains.
Facebook finished the day at a new all-time high, up more than 3 percent to end the day up $1.43, at $45.03. This year Facebook shares are up nearly 70 percent, and since hitting lows one year ago the shares have more than doubled. Analysts are continuing to become more bullish about the company as a result of their growth in the mobile ad market. Last quarter, 41 percent of Facebook’s sales came from mobile.
The Nasdaq Composite ended trading off slightly. The biggest drag on the tech-heavy index Wednesday was Apple. Its shares ended the day down almost $27 a share, a 5-percent decline. Apple finished Wednesday’s session at $467.71 a share.
Wednesday’s loss for Apple comes on the heels of a 2-percent decline on Tuesday after the company unveiled two new iPhones, which failed to wow investors. In the month leading up to Tuesday’s announcement, Apple shares had rallied around 11 percent.
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