Dow 30 Hits New Record Despite Thin Trade

The Dow Jones Industrial Average rose, reaching an all-time closing high and headed toward its biggest annual gain since 1996, as Walt Disney Co. led a rally in consumer shares.

Walt Disney jumped 2.5 percent, the most in the Dow and the Standard & Poor’s 500 Index, after an analyst upgrade. Crocs Inc. rose 21 percent after saying its chief executive officer will retire and Blackstone Group LP will invest $200 million in convertible preferred stock in the maker of colorful plastic clogs. Twitter Inc. fell 5.1 percent, extending losses after a 13 percent drop on Dec. 27. Facebook Inc. declined 3.1 percent, retreating for the third straight trading session.

The S&P 500 (SPX) fell less than 1 point to 1,841.07 at 4 p.m. in New York. The benchmark index is poised for a 29 percent increase this year, its biggest annual gain since 1997. The Dow rose 25.88 points, or 0.2 percent, to 16,504.29 today, extending its rally for the year to 26 percent. About 4.4 billion shares changed hands on U.S. exchanges, 28 percent below the three-month average.

Bloomberg

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