Strong Bank Earnings Propel Stocks Higher

AFP
July 12, 2013

The Worship of Mammon, by Evelyn Pickering
The Worship of Mammon, by Evelyn Pickering

US stocks edged higher to new record highs Friday after strong banking earnings helped offset a profit warning from UPS and fresh trouble for Boeing’s Dreamliner aircraft.

At the closing bell, the Dow Jones Industrial Average rose 2.30 (0.01 percent) to 15,463.22, nudging above Thursay’s record.

The S&P 500 also rose to a new record peak, adding 5.09 (0.30 percent) at 1,680.11, while the tech-rich Nasdaq Composite Index jumped 21.78 (0.61 percent) to 3,600.08.

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