Bloomberg (7/11) --- U.S. stocks advanced, with the Dow Jones Industrial Average poised for a record close, as Federal Reserve officials said economic weakness warrants continued stimulus and investors await data this week on jobs and growth.Microsoft Corp. climbed 4 percent as Nomura Holdings Inc. said the software company may exit its money-losing consumer business under a new chief executive officer. Ralph Lauren Corp. rallied 5.1 percent after the apparel maker boosted the lower end of its sales forecast and increased its dividends. Tesla Motors Inc. tumbled 14 percent as its vehicle sales missed some analysts’ estimates.
The Standard & Poor’s 500 Index rose 0.3 percent to 1,768.96 at 3:01 p.m. in New York. The Dow added 116.30 points, or 0.7 percent, to 15,734.52, surpassing its previous record close of 15,680.35 on Oct. 29. Trading in S&P 500 stocks was 2.3 percent above the 30-day average at this time of the day.
The S&P 500 slipped 0.3 percent yesterday as homebuilders declined. The benchmark gauge has surged 24 percent this year, heading for the best annual performance since 2003, as corporate earnings beat forecasts and the central bank maintained stimulus measures.
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