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Stock Market

Dow Jones industrial average closes at a record high of 16,580, erasing its loss for the year

  • Wall-Street-666

    Traders Kevin Walsh, left, and Gordon Charlop work on the floor of the New York Stock Exchange Wednesday, April 30, 2014. The stock market is edging lower Wednesday after the U.S. economy slowed more drastically in the first quarter than economists had believed. (AP Photo)

    <ASSOCIATED PRESS

  • Wall-Street-667

    Specialist Meric Greenbaum, center, works at his post on the floor of the New York Stock Exchange.

    <ASSOCIATED PRESS

NEW YORK — The Dow Jones industrial average closed at an all-time high today.

A gain of 45 points today left the Dow at 16,580, four points above the record high it set on Dec. 31.

The Dow hadn’t been in the black for 2014 until today.

The Standard & Poor’s 500 index increased five points, or 0.3 percent, to 1,883. The index is seven points below the record high set April 2.

The Nasdaq composite rose 11 points, or 0.3 percent, to 4,114.

Twitter slumped 9 percent after its customer growth fell short of what investors were hoping for.

The Federal Reserve said would reduce its bond purchases by another $10 billion a month, in line with what investors were expecting.

The yield on the 10-year Treasury note fell to 2.65 percent.

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