U.S. stocks edge up; Dow hits record close, 35th t
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U.S. stocks edge up; Dow hits record close, 35th this year
NEW YORK (MarketWatch) — U.S. stocks crept higher on Monday, giving the Dow Jones Industrial Average its 35th record close this year.
The market got a lift from encouraging Chinese economic reports that came out over the weekend and helped Asian and European equities, and it also continued to digest Friday’s better-than-expected U.S. jobs report.
Bond traders had a holiday on Monday thanks to Veterans Day, and there also were no economic reports from the U.S. government.
Kristina Hooper, a U.S. investment strategist at Allianz Global Investors, had expected a relatively quiet day for stocks, and that’s what unfolded.
“Today is going to be a pretty mild day when it comes to movements, just because we’re not going to see much in the way of data,” she told MarketWatch on Monday morning. “The lack of economic data points today may just cause further scrutiny of Friday’s jobs report.” The Labor Department said on Friday that the U.S. economy added 204,000 jobs in October, beating expectations. http://www.marketwatch.com/story/us-stocks-fl...2013-11-11
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