Stock market resumes climb, pushing Dow toward 14,000
BY Staff and Wire Reports
Wednesday, January 30, 2013
1/30/13 at 2:30 AM
Pfizer helped keep the stock market rally alive Tuesday. The drugmaker gained 3.2 percent after it posted strong earnings, pushing the Dow Jones industrial average closer to its record high of 14,164 set in October 2007.
The Dow rose 73 points to close at 13,954.42, ending higher for the seventh day in eight.
Pfizer was the biggest gainer in the 30-stock Dow after it reported that fourth-quarter profit more than quadrupled. The company cited a $4.8 billion gain from selling its nutrition business.
Homebuilder D.R. Horton gained 11.8 percent after its profit more than doubled amid the housing recovery.
Valero Energy, a refinery operator, was the biggest gainer in the Standard & Poor's 500. The company climbed 13 percent after reporting that fourth-quarter profit soared on higher refining margins, as it swapped out foreign crude for cheaper domestic oil.
