Investors brushed off early jitters about a potential slowdown in China and pushed the Dow to its highest close of the year.
The Dow Jones industrial average rose 38.16 points to 14,127.82. The index is a fraction of a percentage point away from its record close of 14,164, reached on Oct. 9, 2007."The U.S. market continues to digest the negative news and hang tough," said Ryan Detrick, a senior strategist at Schaeffer's Investment Research.The Dow has risen 7.8 percent so far this year and the S&P 500 index is 6.9 percent higher.Hess gained $2.30, or 3.5 percent, to $68.84 after the company said it would get out of the retail gasoline business as well as energy trading and marketing to focus on exploration and production.Yahoo! rose 76 cents to $22.70 after Barclays analysts raised its rating on the stock to "overweight" and increased the price target to $26.Apple fell another $10.40 to $420. The stock has now fallen 12 out the last 14 trading days and is trading at its lowest in a year. -- The Associated PressHave more to add? News tip? Tell us
