Stocks: Dow Jones Posts Ninth Consecutive Positive Day; Longest Winning Streak Since 1996

by Colonel on March 13, 2013

“U.S. stocks rose, sending the Dow Jones Industrial Average to its longest rally since 1996, as data showing retail sales increased in February by the most in five months bolstered optimism in the world’s largest economy.

The Standard & Poor’s 500 Index (SPX) rose 0.1 percent to 1,554.52 at 4 p.m. in New York. The Dow added 5.22 points, or less than 0.1 percent, to 14,455.28. The 30-stock gauge reached another record high and capped its ninth straight gain, the longest winning streak since November 1996.

The S&P 500 is about 11 points from its record of 1,565.15 set in October 2007. The benchmark index fell yesterday, ending a seven-day winning streak. The gauge has more than doubled from its bottom in 2009 as the rally was fueled by corporate earnings that topped estimates and monetary stimulus from the Federal Reserve. The Dow has set record closing highs for seven straight days.

” — Sarah Pringle, Copyright 2013 Bloomberg LP

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