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Dow ticks up to record high

Monday, August 07, 2017 - 01:16

The blue chip index closed higher for a tenth straight day Monday. Apple and Facebook boosted the S&P and Nasdaq. Fred Katayama reports.

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The Dow closed higher for a tenth straight day Monday and its ninth record high in a row. Consumer stocks and financial stocks bolstered the blue chip index. Apple and Facebook boosted the S&P and Nasdaq. Jerry Braakman of First American Trust: SOUNDBITE: JERRY BRAAKMAN, CHIEF INVESTMENT OFFICER, FIRST AMERICAN TRUST, (ENGLISH) SAYING: "We continue to see very good news - earnings strength in the second quarter here . We're up another 12 percent on earnings, and also the market is up almost 12 percent year-to-date so continued earnings strength, the economy's plodding along, of course not super strong, but also no signs of weakness." Tyson Foods shares rose. Higher prices for beef and pork and strong export demand helped boost quarterly revenue and push profit past analysts' estimates. Shares of United Technologies fell on a report the company is offering to buy aircraft parts maker Rockwell Collins. Rockwell shares shot higher. Netflix shares gaining after the video streaming company said it's buying Millarworld. That's the comic book publisher behind titles such as "Kick-Ass" and "Kingsman". A mixed close in Europe. A rally in materials shares outweighed a decline in healthcare and utilities shares.

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Dow ticks up to record high

Monday, August 07, 2017 - 01:16