Dow Powers to Record High

By Peter Fearon

Posted Apr 19, 2007 7:08 AM CDT

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Dow Powers to Record High — An NYSE Euronext banner hangs over the floor of the New York Stock Exchange, Wednesday, April 4, 2007, in New York. NYSE Euronext shares slipped in their first day of trading following the completion of the $14 billion deal that created the first trans-Atlantic stock exchange. (AP Photo/Henny Ray... (Associated Press)

The Dow rose 30.80 points yesterday, closing above 12800 for the first time. The new record was powered was by JP Morgan Chase, Boeing and Caterpillar, while nearly two-thirds of the Dow components failed to make gains, the Wall Street Journal reports. Tech stocks continued to be weak; the Nasdaq negative.

It's a carryover from yesterday's rally," Jim Herrick, head trader at Robert W. Baird, tells the Journal. "The Consumer Price Index numbers gave investors confidence," indicating inflation might be easing for the broader economy. “We're expecting prices to continue to go higher," said Charles Blood, of Brown Brothers Harriman. (More stock market stories.)

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