
The stock market hit a fresh 17-month high Wednesday, capping a quiet seven-day rally, as the prospects for continued low borrowing costs buoyed investors' hopes for the U.S. economy. Market Data Center Most Actives | Gainers | Losers New Highs and Lows | Money Flows Intraday Futures | Currencies Data: Overview | Treasurys | Forex | Crude | Gold The Dow Jones Industrial Average rose 47.69 points, or 0.5%, to 10733.67, its highest close since Oct. 1, 2008. The Dow's run is the longest since August 2009. While many individual stocks are hitting 52-week highs—some 1,231 of them did so on Wednesday—the recent streak has seen the blue-chip measure climb just 1.7%. "It's been subtle—almost silent—and yet here we are at new highs," said Mark Luschini, chief investment strategist at Janney Montgomery Scott. "It certainly doesn't feel like the market's climbing by leaps and bounds, but very subtly we've gained 10 points here, 30 points there." So far this month, there have been just two days when the Dow rose more than 100 points from the low of the day to the high.
[Read more...]