You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Hyundai Motor to pay $10 billion for Gangnam land
      SEOUL, South Korea – A consortium led by Hyundai Motor Co. has offered $10 billion for land in Seoul’s tony Gangnam district where it will build a new headquarters.
  • Consumer prices fall, easing inflation fears
    WASHINGTON – U.S. consumer prices edged down in August, the first monthly drop since the spring of 2013, as gasoline, airline tickets and clothing prices all fell.
  • Fed to keep interest at record low
    WASHINGTON – The Federal Reserve signaled Wednesday that it plans to keep a key interest rate at a record low because a broad range of U.S. economic measures remain subpar.
Advertisement

Dow Jones industrial average hits record

NEW YORK – The Dow Jones industrial average is trading at an all-time high.

The index surged past its previous record set in October 2007, gaining 145 points to stand at 14,273 at midday Tuesday. That’s a gain of 1 percent.

The index is now up nearly 9 percent for the year, capping a remarkable comeback since the depths of the financial crisis. The Dow has doubled since bottoming out at a 12-year low in March 2009.

Tuesday’s gains were driven by industrial and technology stocks. IBM, United Technologies and 3M led the Dow higher.

The Standard & Poor’s 500 index rose 16 points, also 1 percent, to 1,541. The S&P is also within striking distance of its record close of 1,565. The Nasdaq composite gained 43 points, or 1.4 percent, to 3,225.

Advertisement