Another record close for Dow and S&P 500

  @emilyjanefox April 11, 2013: 4:25 PM ET
dowclose

Click the chart for more stock market data.

NEW YORK (CNNMoney)

U.S. stocks had another day of gains Thursday that pushed the Dow and S&P 500 to new record highs.

The Dow Jones Industrial Average topped the previous day's record high, rising 0.4% to close at 14,865.14. The blue chip index is now less than 1% away from 15,000.

The S&P 500 gained nearly 0.4% to 1,593.37, also a new record and putting the broad index just 0.4% away from 1,600.

"It's a market that's climbed the walls of worry. When there are pullbacks, the market rebounds quickly," said Tim Ghriskey, chief investment officer at Solaris Asset Management.

The outlier was the Nasdaq , which was dragged down by weakness in the tech sector. Shares of PC-related companies extended the prior day's sell-off following news that PC sales fell 14% worldwide last quarter.

Shares of Microsoft (MSFT, Fortune 500), Intel (INTC, Fortune 500) and Hewlett-Packard (HPQ, Fortune 500) fell between 3% and 7%.

Microsoft and other PC stocks crash

Herbalife (HLF) spiked 3% after the Securities and Exchange Commission filed insider trading charges against the former KPMG partner who was fired after allegedly leaking insider trading information. KPMG resigned as auditor of the nutritional supplement company on Wednesday.

Related: Stock rally has room to run

On the economic front, investors largely shrugged off a better-than-expected weekly report on initial jobless claims.

Retailers also reported a mixed bag of February same-store sales -- a key metric used to gauge consumer spending.

Sales at Costco (COST, Fortune 500) rose 4%, missing forecasts, while Gap (GPS, Fortune 500) reported same-store sales that rose a better-than-expected 3% in the latest month.

Shares of Yum Brands (YUM, Fortune 500) were slightly higher after falling in premarket trading. The restaurant operator revealed that its same-store sales in China dropped in March amid an ongoing food safety scandal and concerns about bird flu.

Despite the company's recall of 1.7 million vehicles because of airbag defects, Toyota (TM) shares rose. Honda (HMC) shares also gained, even after the automaker said it was recalling 1.1 million vehicles with airbag problems. Shares of airbag supplier Takata Corp closed down 9% in Tokyo.

Related: Fear & Greed Index heads back into greed

Meanwhile, corporate results continued to roll in.

Drugstore chain Rite Aid (RAD, Fortune 500) swung to a profit in the latest quarter, trouncing forecasts and sending shares up 19%. Bed Bath & Beyond (BBBY, Fortune 500) reported earnings in line with forecasts, as sales continued to rise.

The first of the big banks, JPMorgan (JPM, Fortune 500) and Wells Fargo (WFC, Fortune 500), will report their results ahead of the opening bell Friday.

Related: Wall Street sours on gold

European markets closed higher, supported by Wall Street's record-breaking run.

Asian markets also ended with gains. The Shanghai Composite added 0.1%, the Hang Seng increased 0.3% and the Nikkei jumped 2%.

Oil prices were lower, while gold prices were slightly higher.

The yield on the 10-year Treasury fell to 1.79% from 1.81% Tuesday. To top of page



Join the Conversation
Markets
Sponsored by
Index Last Change % Change
Dow 16,408.54 -16.31 -0.10%
Nasdaq 4,095.52 9.29 0.23%
S&P 500 1,864.85 2.54 0.14%
Treasuries 2.72 0.08 3.19%
Data as of 5:47pm ET
Company Price Change % Change
Bank of America Corp... 16.15 0.02 0.12%
Facebook Inc 58.94 -0.78 -1.31%
General Electric Co 26.56 0.44 1.68%
Cisco Systems Inc 23.21 0.18 0.78%
Micron Technology In... 23.91 1.43 6.36%
Data as of 4:01pm ET
Overnight Avg Rate Latest Change Last Week
30 yr fixed4.41%4.44%
15 yr fixed3.33%3.31%
5/1 ARM3.34%3.55%
30 yr refi4.39%4.41%
15 yr refi3.31%3.30%
View rates in your area
 
Find personalized rates:
Rate data provided
by Bankrate.com
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.