Dow Hits New High, Led by Alcoa, Exxon (DJI, AA, XOM)
By Swing Trader
March 17, 2010 10:46 AM
March 17, 2010 10:46 AM
The Dow Jones Industrial Average (DJI) set a new 52-week high this morning led by Alcoa (NYSE: AA) and Exxon Mobil (NYSE: XOM).
A better-then-expected reading on producer prices raised investor hopes that the Fed could continue its easy-money policy without stoking inflation.
The Dow rose 48 points, or 0.45%, to 10,734 in mid-morning trading. This topped the previous 52-week high of 10,729 set on January 19.
Alcoa, a dow component, rose 4.9% while Exxon saw its shares move up 1.4% as crude oil futures rose to over $82 a barrel.
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