U.S. Stock Are Little Changed After Dow Record Amid Earnings

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U.S. stocks were little changed, after the Dow Jones Industrial Average rose to a record yesterday, amid corporate earnings and data showing an unexpected gain in jobless claims and higher consumer spending.

The Standard & Poor��s 500 Index added less than 0.1 percent to 1,884.33 at 9:30 a.m. in New York. The Dow average rose 8.35 points, or 0.1 percent, to 16,589.19. The 30-stock equity gauge rose 0.3 percent yesterday, topping the previous record it reached on Dec. 31.

The S&P 500 posted a 0.6 percent gain in April for a third monthly advance, as better-than-estimated economic data and corporate results offset escalating tensions between the U.S. and Russia over the latter��s intentions on Ukraine.

The index closed yesterday within seven points of its all-time high from April 2. Its 8.2 percent recovery from a low of 1,741.89 on Feb. 3 has been led by a 14 percent rally in energy stocks and increases of 11 percent each in industries least tied to economic growth: utilities and home-product makers.

Copy Source : Bloomberg