Independent, Fee-Only Financial Advisor
Thursday, April 28, 2011
Stocks extended their multiyear highs today as the market clung to a flow of encouraging corporate earnings and optimism generated by the Federal Reserve's plans to keep interest rates low. The Dow Jones Industrial Average rose .6% to its highest close since May of 2008. Leading the blue-chip measure, Boeing climbed 3.2%. Procter & Gamble was also strong, rising .8% after its first-quarter earnings beat analysts' estimates. The market largely overlooked a lukewarm round of economic data. U.S. pending home sales climbed more than expected last month, but gross domestic product showed a significant slowing from the previous quarter. DJIA +72.35 Nasdaq +2.65 S&P 500 +4.82.