Dow Industrials on Pace to Register 7th Straight Record

by Mark DeCambre
Market Watch

Stocks opened higher Wednesday, putting the Dow industrials on track to log its seventh record closing high in a row, fueled by better-than-feared quarterly results. Notably, Morgan Stanley MS, +2.15% reported second-quarter results thatbeat Wall Street’s expectations, lifting the investment bank’s shares. The Dow Jones Industrial Average DJIA, +0.24% rose 0.2% to 18,601, the S&P 500 index SPX, +0.45% climbed 0.2% at 2,167, while the Nasdaq Composite Index COMP, +1.04% advanced 0.4% to 5,056. On Tuesday, both the S&P 500 and Nasdaq finished lower as the broader market retreated after disappointing quarterly results from Netflix Inc. NFLX, +2.25% Meanwhile, crude-oil prices were trading 1.6% lower at $44.74 a barrel, ahead of data on inventories.

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