Dow Jones Closes at Record High for Third Straight Day


Dow Jones Closes at Record High for Third Straight Day

The Dow Jones Industrial Average closed 84 points higher at 21,637, a record. The Dow Jones Industrial Average was up 0.4%, a record high. The Nasdaq 38.03 points, or 0.61%, to 6312.47-the largest one-week point and percentage again since early December.

USA stocks closed modestly higher Friday, notching record highs for several major US indexes. Over the last 12 months, the all items index rose 1.6 percent.

On the Nasdaq, shares in Yandex jumped 15% after the company signed a deal with Uber to combine their Russian ride-sharing businesses.

Snap Inc. surged 3% after Stifel Nicolaus upgraded the Snapchat parent to buy, saying that a recent selloff in the stock had created a "compelling" opportunity. The S&P 500 rose 11.44 points, or 0.47%, to 2459.27.

Delta Air Lines Inc DAL.N on Thursday reported a 21 percent drop in second-quarter profit because of sharply higher operating costs, despite higher passenger unit revenue, sending its shares down about 1.8 percent. The news boosted other retailers, with Wal-Mart up 1.4% and Costco edging up 0.9%.

Stocks rose as investors waited for day two of Federal Reserve chief Janet Yellen's testimony to Congress.

Advancing issues outnumbered declining ones on the NYSE by a 1.11-to-1 ratio; on Nasdaq, a 1.01-to-1 ratio favored advancers.