Another Record Close for the Dow
(NEW YORK) — A rally on Wall Street Monday showed no signs of fading. Stocks edged mostly higher, pushing the Dow Jones Industrial Average further into record territory.
The Dow rose 21 points on Monday to close at a new high of 15,783. The Nasdaq Composite closed up a fraction of a point at 3,920. The S&P completed the session one point higher at 1,772.
Stock averages have been up for the past five months, a gain of 20 percent so far this year. This could, however, be a volatile week for the markets as investors weigh last week’s surprisingly strong monthly jobs report and its affect on Federal Reserve money policy.
Investors this week will be looking for any evidence that consumers are ready to start spending again before the holiday shopping season, with quarterly earnings reports from Macy’s, Wal-Mart, Nordstrom and Kohl’s. They’ve all have cut their outlooks, with consumers still skittish about the economy.
Bond markets were closed for the Veterans Day holiday.
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