Regis Philbin
Dec 14th, 2006, 07:04 PM
http://money.cnn.com/2006/12/14/markets/markets_0535/index.htm?postversion=2006121418
Dow hits highest close ever
S&P hits high for the year as investors welcome upbeat bank earnings, shrug off jump in oil prices; techs rally.
By Steve Hargreaves, Alexandra Twin and Grace Wong, CNNMoney.com staff writers
December 14 2006: 6:03 PM EST
NEW YORK (CNNMoney.com) -- Stocks surged Thursday, sending the Dow Jones industrial average to a record close and the S&P 500 to a more than six-year high, thanks to upbeat earnings from the banking sector, a drop in jobless claims and a rebound in technology.
The Dow (up 99.26 to 12,416.76, Charts) jumped 0.8 percent. The broader S&P 500 (up 12.28 to 1,425.49, Charts) index and the tech-fueled Nasdaq (up 21.44 to 2,453.85, Charts) composite each rallied around 0.9 percent.
The Dow broke through a previous record closing high of 12,342.56 set Nov. 17. It also hit a new trading high of 12,431.26.
The S&P 500 closed at its highest level since November 2000, taking out its previous 2006 high from early December.
The Nasdaq closed about 12 points below its 2006 high.
"The trend remains positive, you just can't fight it right now," said Greg Church, president at Church Capital.
Dow hits highest close ever
S&P hits high for the year as investors welcome upbeat bank earnings, shrug off jump in oil prices; techs rally.
By Steve Hargreaves, Alexandra Twin and Grace Wong, CNNMoney.com staff writers
December 14 2006: 6:03 PM EST
NEW YORK (CNNMoney.com) -- Stocks surged Thursday, sending the Dow Jones industrial average to a record close and the S&P 500 to a more than six-year high, thanks to upbeat earnings from the banking sector, a drop in jobless claims and a rebound in technology.
The Dow (up 99.26 to 12,416.76, Charts) jumped 0.8 percent. The broader S&P 500 (up 12.28 to 1,425.49, Charts) index and the tech-fueled Nasdaq (up 21.44 to 2,453.85, Charts) composite each rallied around 0.9 percent.
The Dow broke through a previous record closing high of 12,342.56 set Nov. 17. It also hit a new trading high of 12,431.26.
The S&P 500 closed at its highest level since November 2000, taking out its previous 2006 high from early December.
The Nasdaq closed about 12 points below its 2006 high.
"The trend remains positive, you just can't fight it right now," said Greg Church, president at Church Capital.