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Nov 22, 2003
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Dow Hits Record amid Tech Profits
Yahoo! and Sun Microsystems announced upbeat quarterly results. Also in focus: earnings from AMD, McDonald's, and others

by Marc Hogan

Stocks finished broadly higher Wednesday, as the Dow hit a new all-time closing high amid strong earnings news from the recently beleaguered tech sector. An afternoon rebound in oil prices boosted energy shares. Markets were showing little reaction to Tuesday night's State of the Union address, says Standard & Poor's Equity Research.

On Wednesday, the Dow Jones industrial average rose 87.89 points, or 0.7%, to 12,621.69, a new closing record. The broader Standard & Poor's 500 index added 12.14 points, or 0.85%, to 1,440.13. The tech-heavy Nasdaq composite climbed 34.87 points, or 1.43%, to 2,466.28, its biggest gain since Dec. 4.

NYSE breadth was decidedly positive, with 20 issues advancing for every 10 declining. Nasdaq breadth was 20-10 positive...

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