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Dow Jones average reaches another record high Monday

Nov. 12, 2013 @ 12:00 AM

NEW YORK -- The Dow Jones industrial average rose to another all-time high on Wall Street Monday.

The market edged higher from Friday, when it got a lift from an unexpectedly strong U.S. jobs report for October. The surge in hiring made investors more optimistic that the U.S. economy is getting stronger.

Stock trading volume was among the lowest of the year, and bond markets were closed for Veterans Day. Traders on the floor of the New York Stock Exchange held a moment of silence in observance of the holiday.

The Dow has advanced for five straight weeks and is up 20 percent so far this year. The last time the Dow had a bigger gain for a whole year was 2003, when it rose 25 percent.

Other major indexes have also surged. Stocks have been propelled higher this year by economic stimulus from the Federal Reserve, a gradually improving economy and rising company earnings.

The Dow rose 21.32 points, or 0.1 percent, to 15,783.10 The index of 30 blue-chip stocks has closed at a record 35 times this year.

The Standard & Poor's 500 index gained 1.28 points, or 0.1 percent, to 1,771.89, just 0.06 point below its own record high reached on Oct. 29. The Nasdaq composite rose 0.56 points, less than 0.1 percent, to 3,919.79.

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