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Dow at record high

Wednesday, February 25, 2015 - 01:26

While the S&P moved off its record high, and the Nasdaq broke its 10-session winning streak, the Dow edged higher to hit another record close. Bobbi Rebell reports.

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Another record setting day for the Dow edging higher in Wednesday's session. But the S&P moved off its all-time high, and the Nasdaq broke its 10-session winning streak, as Federal Reserve Chair Janet Yellen concluded her two-day testimony on capital hill. She gave few new clues for investors on the timing of a rate hike. Economics news was positive. New U.S. single family homes sales dipped less than expected last month, and supply expanded. IHS economist Patrick Newport says weather in the Northeast may have been a factor. SOUNDBITE: PATRICK NEWPORT, U.S. ECONOMIST, IHS INSIGHT (ENGLISH) SAYING: "We had snow storms and big snowstorms which kept people in their homes for several days, so it had a small effect, but not a very big one." Shares of Salesforce.com soared after hours on news its revenue jumped 26 percent. But Victoria's Secret parent L Brands stock fell after the closing bell on lower forward guidance. Boston Beer's high flying shares fizzled. Revenue at the maker of Sam Adams beer missed estimates as did its profit forecast. It was the same story on revenue and outlook at Hewlett-Packard, causing the world's second largest PC maker's shares to tumble. A surge in marketing and product development costs resulted in a quarterly loss at online lender, LendingClub. Shares dropped. A mixed bag of corporate earnings results had european stocks closing mixed as well.

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Dow at record high

Wednesday, February 25, 2015 - 01:26