Dow Tops 16,000; Stocks Build on Record Highs

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Wall Street Premarket
Richard Drew/AP
By Adam Samson

The markets climbed on Monday, pushing the Dow above the 16,000 mark for the first time in history.

Today's Markets

As of 9:32 a.m. Eastern time, the Dow Jones Industrial Average climbed 48.1 points, or 0.3%, to 16011, the S&P 500 advanced 2.9 points, or 0.17%, to 1801 and the Nasdaq Composite edged up 4.6 points, or 0.11%, to 3991.

The Federal Reserve was expected to stay in focus this week, with several prominent officials speaking and minutes from the last FOMC meeting out Wednesday.

New York Fed chief William Dudley is expected to speak at 12:15 p.m. ET. Traders are paying close attention to any hints on when the central bank will begin paring back its massive bond-buying program.

Also on the economic front, the National Association of Home Builders reveals its latest reading on homebuilder sentiment at 10 a.m. ET. The housing sector, which was pummeled during the financial crisis, has been a centerpiece of the recovery. However, higher mortgage rates have put some pressure of the segment recently.

In corporate news, Boeing (BA) shares rallied after the aerospace giant revealed $95 billion in orders for its 777X plane -- representing the largest commercial jet launch in history by dollar value, according to the company. Tyson Foods (TSN) posted quarterly profits that narrowly beat analysts' expectations.

Elsewhere, U.S. crude oil prices fell 36 cents, or 0.38%, to $93.48 a barrel. Wholesale New York Harbor gasoline slid 1.1% to $2.628 a gallon. Gold dipped $8.80, or 0.69%, to $1,279 a troy ounce.

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Big John

Glad the economy is doing so well for a few, where is the hiring?

November 18 2013 at 12:11 PM Report abuse +1 rate up rate down Reply
1 reply to Big John's comment
willypfistergash

The markets are doing well. Obama's economy still sucks.

November 18 2013 at 12:31 PM Report abuse rate up rate down Reply