Stocks Edge Up As Dow Extends Record Rise
U.S. stocks edged up at the close on Wednesday, with the Dow Jones Industrial Average extending its record rise, after encouraging reports on private-payrolls growth and the economy. The Dow industrials added 42.47 points, or 0.30%, to 14,296.24. The S&P 500 index climbed 1.67 points, or 0.11%, to end at 1,541.46. The Nasdaq Composite shed 1.76 points, or 0.05%, to 3,222.37.
The Republican-controlled House approved legislation Wednesday to prevent a government shutdown on March 27 and blunt the impact of newly imposed spending cuts on the Defense Department.
A Federal Reserve survey showed the U.S. economy expanded in all parts of the country in January and February, helped by strong auto sales, a continued recovery in housing and improved job prospects. The Fed says 10 of its 12 regions reported moderate or modest growth, while Boston and Chicago districts reported slow growth.
Google Inc began testing a same-day delivery service with retailers in recent weeks, the latest move into Amazon.com Inc’s e-commerce turf by the world’s largest Internet search company.
U.S. solar panel installer SolarCity Corp on Tuesday reported a wider fourth-quarter loss as operating expenses grew. The company posted a loss from operations of $23.8 million, compared with a loss from operations of $14 million a year ago. Total revenue grew 22 percent to $25.3 million from $20.7 million.