Friday, Jul 29, 2016
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Stock Market

Stocks climb to record levels as investors regain appetite for Internet stocks

NEW YORK -- The Dow Jones industrial average and Standard & Poor’s 500 index are closing at record highs today as investors regain their appetite for riskier stocks.

Twitter was one of the big gainers, rising $1.89, or 5.9 percent, to $33.94. Facebook climbed $2.59, or 4.5 percent, to $59.83. After beating down Internet and small company stocks for two months, investors decided that they had fallen enough.

The Dow gained 112 points, or 0.7 percent, to 16,695. The S&P 500 rose 18 points, or 1 percent, to 1,896, surpassing its previous all-time high of 1,890 on April 2.

The Nasdaq composite rose 71 points, or 1.8 percent, to 4,143.

The yield on the 10-year Treasury note rose to 2.65 percent from 2.63 percent on Friday.

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