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Dow ekes out eighth-straight advance

Mar. 13, 2013 @ 12:00 AM

NEW YORK -- The Dow Jones industrial average logged its longest winning streak in two years -- barely.

A tiny gain gave the Dow its eighth straight increase Tuesday, long enough to match its longest series of gains since February 2011.

The Dow rose 2.77 points, or 0.02 percent, to 14,450.06, having wavered between small gains and losses for most of the day.

The broader Standard & Poor's 500 ended down 3.74 points, or 0.2 percent, at 1,552.48. The Nasdaq composite dropped 10.55 points, or 0.32 percent, to 3,242.32

Stocks have surged this year as investors became encouraged by a recovery in the housing market and a pickup in hiring. Strong corporate earnings and continuing economic stimulus from the Federal Reserve are also supporting demand for stocks.

The Dow has gained 10.3 percent so far in 2013, and last week it surpassed its previous all-time high of 14,164.53. The S&P 500 has risen 8.9 percent this year and is less than 1 percentage point away from its record close of 1,565.15 set in October 2007.

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