Deals
Dow Climbs to Highest Level on Central Bank Optimism
This article is for subscribers only.
The Dow Jones Industrial Average climbed to a record, erasing losses from the financial crisis, as China vowed to maintain its growth target and investors bet central banks will continue stimulus measures.
All 10 groups in the Standard & Poor’s 500 Index and 27 out of 30 stocks in the Dow rose. Apple Inc. rallied 2.6 percent for its first gain in five days. Qualcomm Inc. jumped 2 percent as it increased its dividend by 40 percent and set up a $5 billion share buyback plan. J.C. Penney Co. sank 11 percent after its second-biggest shareholder sold part of its stake.