Dow at highest level in more than 2 years
The Dow Jones industrial average edged up 30 points on Thursday, and shares of Intel led the advance.
February 17th, 2011
10:42 PM ET

Dow at highest level in more than 2 years

Some highlights from the day's business news:

Stocks end at fresh multi-year highs

U.S. stocks ended at fresh multi-year highs Thursday, as investors focused on an upbeat manufacturing report and looked past indications that inflation is heating up.

The Dow Jones industrial average edged up 30 points, or 0.2%, to 12,318.14, with 21 of the Dow's 30 components heading higher. Shares of Intel led the advance, while American Express lagged.

The S&P 500 rose 4 points, or 0.3%, with Sears Holding leading the way. Meanwhile, the Nasdaq ticked up 6 points, or 0.2%, with Research in Motion among the biggest gainers.

All three of the major indexes finished the session at their highest levels in more than two years for a second day on Thursday.

Warning: Bond market volatility ahead

The bond market has been rocky over the past month, and analysts say we're in store for a rollercoaster ahead.

Investors have a lot on their minds: the deficit, interest rates, inflation and Middle East unrest, as well as continued recovery concerns. And concern is growing that Treasury yields are too low.

"Going forward, the market is going to be more volatile than it's been in a long time," said Kenneth Naehu, managing director and head of fixed income at Bel Air Investment Advisors.

"The current market isn't one for people to buy in and then sit there," he added. "You need to be actively watching your exposure."

The 10-year yield had been stuck in a month-long rut below 3.5%, but it has ticked slightly higher over the last two weeks. But the benchmark note's yield - which affects interest rates on everything from savings accounts to home loans - has struggled to move much higher than 3.6%.

-'s Blake Ellis and Julianne Pepitone contributed to this report.

Post by:
Filed under: Business • Economy
soundoff (16 Responses)
  1. citizen

    This is fantastic news. Thank you god for saving our economy.

    February 17, 2011 at 11:08 pm | Report abuse |
  2. Barrens Chatter

    Boy,I bet Barack Obama is in 7th heaven now after hearing this!

    February 17, 2011 at 11:21 pm | Report abuse |
  3. Cesar

    I bet it'll go back down within 48 hours.

    February 17, 2011 at 11:25 pm | Report abuse |
  4. Onlooker

    The lull before the storm.

    February 18, 2011 at 12:21 am | Report abuse |
  5. MissingRussian facebookrevolution

    a rich oil country. a woman loved by the population. A writer named ann. And many other russian women killed but never solved. Hillary could not win a human rights beauty show there ever. A most repressive country with a wild cowboy santa clause internet and extreme class divisions. Friends of who? "Anonymous" hypocrisy incorporated. Good day for the markets as predicted. Stabilty is a virtue.

    February 18, 2011 at 12:51 am | Report abuse |
  6. Darrin G

    And this has what to do with the rest of america?

    February 18, 2011 at 2:05 am | Report abuse |
  7. Glem Pashni

    Ride the tide of god's love through these economic storms.

    God bless all who read this.

    February 18, 2011 at 2:10 am | Report abuse |
  8. raven

    MissingRussian, What are you trying to say ?? is that some sortaencrypted message we are sposta decode ?

    February 18, 2011 at 2:21 am | Report abuse |
  9. Ancient Texan

    The numbers are getting bigger, but the Value of the stocks in my 401K are sure slow coming back. It could be partly because stocks like General Motors were eliminated because of bankruptsy and take over by the unions.

    February 18, 2011 at 10:14 am | Report abuse |
  10. Veritas

    @Cesar hi could u try not to be such a buzzkill about good news dear boy. just saying. @glemnashu thanks for the blessing. may God bless you as well!

    February 18, 2011 at 1:47 pm | Report abuse |
  11. Cesar

    @veritas, You must have misinterpreted my remark. I meant it will probably go even higher in 48 hours, after a short dip. A true sign that The Great Recession is over.

    February 18, 2011 at 5:26 pm | Report abuse |
  12. Mullen

    This rings in hope over despair, but for how long?

    February 18, 2011 at 6:36 pm | Report abuse |
  13. chrissy

    well aint that just special stocks going back up! must be cuz china just bought more of the good ole USA.

    February 18, 2011 at 10:40 pm | Report abuse |
  14. Mrs sippy

    Now that was hilarious raven still laughing!

    February 18, 2011 at 10:48 pm | Report abuse |
  15. Cesar


    February 19, 2011 at 3:46 am | Report abuse |
1 2