Finance Markets

January 12, 2007

Dow again in record territory

Permalink: Dow again in record territory

Filed under: Equities, Economy, US

Wall Street saw gains in early afternoon trade on Friday, as the Dow Jones Industrial Average was once again in record territory after having closed at a new high on Thursday. The Dow was 0.31 percent higher to 12,553.27, while the Nasdaq Composite added 0.60 percent to 2,499.67 and the S&P 500 gained 0.48 percent to 1,430.64. The Russell 2000 index of small-caps had gained 0.52 percent to 792.52. Trade volumes were at 857.3 million shares trading hands so far on the session.

The trademark dispute between Apple Computer and Cisco Systems over who can use the name “iPhone” continued to affect share prices. Apple dropped $1.25 to $94.54, while Cisco was 21 cents higher to $28.90.

In the semiconductors sector, Advanced Micro Devices dropped $2.08 to $18.09 after it said that results will not meet expectations in the fourth quarter.

With oil prices slightly higher on the session, the oil sector saw gains. Murphy Oil Corp added 4 cents to $46.29 despite a warning from the refiner that profits will be lower than had been anticipated in the fourth quarter. ExxonMobil was 71 cents higher to $71.70, while ConocoPhillips gained $1.41 to $63.23.

US markets will be closed on Monday in observance of the Martin Luther King Jr. holiday.

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