Stock gain lifts Dow average to 2nd highest leve

Stock gain lifts Dow average to 2nd highest level

SAN FRANCISCO (MarketWatch) — U.S. stocks closed higher Monday, with the Dow Jones Industrial Average closing at its second-highest level ever, after strength in defensive stocks shook off early morning losses following a measure to cool China’s real-estate bubble.

The Dow Jones Industrial Average (DJI JIA) rose 38.16 points, or 0.3%, to its second-highest close of 14,127.82, about 37 points below its record close of 14,164.53 set in Oct. 9, 2007. The index was down as low as 14,030.37 earlier in the session.

Shares of Wal-Mart Stores Inc. (NYSE:WMT) led the index higher, rising 2.1%, followed by gains in Home Depot Inc. (NYSE:HD) and Merck & Co. (NYSE:MRK) . Shares of Caterpillar Inc. (NYSE:CAT) led decliners on the Dow industrials, falling 1.8%, followed by United Technologies Corp. (NYSE:UTX) and Alcoa Inc. (NYSE:AA)

The S&P 500 (SNC:SPX) rose 7 points to close at 1,525.20, just 2.6% below its all-time close of 1565.15, hit on October 9, 2007. Utilities, a sector considered safer in times of economic turbulence, led the index higher, and consumer staples also gained. Industrials and energy were the hardest hit among the index’s 10 sectors. The index touched an intraday low of 1,512.28.
The Nasdaq Composite (NASDAQ:COMP) advanced 12.29 points to close at 3,182.03, even with index heavyweight Apple Inc. (NASDAQ:AAPL) closing down 2.4% at $420.05, following a new 52-week low of $419.00 touched during the session.

The Nasdaq had fallen as low as 3,154.79 earlier in the session.
http://www.marketwatch.com/story/us-stocks-dr...2013-03-04