National

Nov 14, 2013 10:44 PM by Jennifer Horbelt

Safe-play stocks lead market to latest records

NEW YORK (AP) - The stock market is closing at another record high, but the gains were driven mostly by stocks that investors buy when they want to avoid risk.

The biggest gainers were safe-play stocks like power companies, banks and health care companies, a sign that investors are becoming more cautious.

Technology companies were dragged lower after network equipment maker Cisco Systems predicted a sharp drop in sales.

The Dow Jones industrial average rose 54 points, or 0.4 percent, to close at 15,876 Thursday. The Standard & Poor's 500 index rose eight points, or 0.5 percent, to 1,790 points. Both set records for the second day in a row.

The Nasdaq composite rose less than other indexes because of the slump in tech stocks, gaining just seven points, or 0.2 percent, to 3,972.

 

»Comments

»Topics in this article

More News

Weather - Forecast
Story Photo

12 hours ago

Cooler Thursday

Windy early with blowing dust in some areas. Wind ending overnight tonight. An isolated thunderstorm possible early. Overnight low temperatures will drop...

Most Popular

Top Videos

1 2 3 4