Dow Jones Industrial average reached 14,000 as the index continued to draw near its all-time high of 14,164.63 that was set in October 2007. The other vital stock indexes were higher Tuesday in late trading as investors got their confidence back in a market that started the year at new highs.
The Dow, the tech-heavy Nasdaq composite index, and the wider ranged Standard & Poor’s 500 index were all up 0.4 percent in late trading. Google shares went up to an all-time high of $803.39 in morning trading before it settled back and got a gain of 1.5 percent in late trading.
Shares of PC maker Dell remained at $13.82, just before it released its quarterly profits report. Shares of OfficeMax and Office Depot soared after reports were released that the two office supply retailers are talking about a merger. Office Max shares were up 19 percent after trading as high as 30 percent earlier in the day. Office Depot share went up 9 percent in late trading, and has seen up as high as 20 percent earlier in the session.
The yield on the 10 year US Treasury note remained at 2 percent. The price of gold dropped 0.4 percent to $1,603.50 an ounce.
The euro was slightly higher than the dollar at 1.339. The dollar dropped 0.4 percent to 93.52 cents against the Japanese yen.
The nation celebrated Presidents’ Day Monday, which is why the markets were closed for the holiday. Last Friday, the Dow increased 8.37 points to close at 13,981.76. The S&P 500 fell 1.59 points to 1,519.79. The Nasdaq also suffered a drop of 6.63 points to 3,192.03.
In Europe, benchmark indexes in Frankfurt, London, and Paris gained a day after the release of a report on German economy showed it avoided recession despite the slowdown in most of the Euro nations.