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Stocks grind higher, pushing Dow toward record

6:53 AM, Mar 5, 2013   |    comments
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NEW YORK (AP) - The Dow had its highest close of the year yesterday and is edging closer to its all-time high.

Investors brushed off early jitters about a potential slowdown in China, and the Dow closed up 38 points at 14,128 Monday. The index is now 36 points shy of its record high close reached in October 2007.

The S&P 500 index rose an even seven points, to 1,525, while the Nasdaq composite added 12 points, to 3,182.

Apple continued its decline, falling as low as $419 Monday - its weakest point since January 2012 - before closing down 2.4 percent at $420.05. The Cupertino, Calif., company's quarterly earnings report signaled that its fast growth phase, rare for a company of its size, may be coming to an end. Apple's stock price peaked in September at $705.07

Energy company Hess jumped 3.5 percent after saying it would sell its retail business.

More stocks rose than fell on the New York Stock Exchange. Trading volume was thin at 3.3 billion shares.






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