Bloomberg
(07/11) -- U.S. stocks advanced, with the Dow Jones Industrial Average
poised for a record close, as Federal Reserve officials said economic
weakness warrants continued stimulus and investors await data this week
on jobs and growth.Microsoft Corp. climbed 3.7 percent as
Nomura Holdings Inc. said the software company may exit its money-losing
consumer business under a new chief executive officer. Ralph Lauren
Corp. rallied 4.4 percent after the apparel maker boosted the lower end
of its sales forecast and increased its dividends. Tesla Motors Inc.
tumbled 15 percent as its vehicle sales missed some analysts’ estimates.The
Standard & Poor’s 500 Index rose 0.3 percent to 1,767.85 at 12:21
p.m. in New York, trimming an earlier advance of as much as 0.6 percent.
The Dow added 899.07 points, or 0.6 percent, to 15,707.29, surpassing
its previous record close of 15,680.35 on Oct. 29. Trading in S&P
500 stocks was 2.7 percent above the 30-day average during this time of
the day. The S&P 500 slipped 0.3 percent yesterday as
homebuilders declined. The benchmark gauge has surged 24 percent this
year, heading for the best annual performance since 2003, as corporate
earnings beat forecasts and the central bank maintained stimulus
measures.
