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Big News Network.com Wednesday July 13, 2016
U.S. stocks reach highest level in history
Industrial stocks in America reached new heights on Tuesday with the Dow Jones Industrials and Standard and Poors 500 closing at record highs. A sharp recovery in oil prices led the way as investors weighed into stocks. Even the Nasdaq traded at its highest level for the year. "We believe earnings in the U.S. and GDP growth bottomed in the first quarter. If that is the case, stocks should continue on at least another 5-percent gain from here this year," Paul Zemsky, chief investment officer, Multi-Asset Strategies and Solutions at Voya Investment Management in New York told the Reuters Thomson news agency. At the close of trading Tuesday the Dow Jones industrial averages had added 120.74 points or 0.66% to 18,347.67. The Standard and Poors 500 closed 14.98 points or 0.70% higher at 2,152.14. The tech-laden Nasdaq Composite climbed 34.18 points or 0.69% to 5,022.82. For the Standard and Poors 500 it was the second record in a row, having gained new heights on...Read More

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