Dow industrials, S&P 500 hit intraday recordsAfter advancing to an intraday record of 1,573.89, -- Magazines

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Date Posted: 13:07:25 04/09/13 Tue
Author: Tuesday 9/4/2013 re Thursday 11/10/2007
Subject: Dow industrials, S&P 500 hit intraday recordsAfter advancing to an intraday record of 1,573.89,

Dow industrials, S&P 500 hit intraday records
Skechers up, Herbalife down, after trading resumes
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By Kate Gibson, MarketWatch
NEW YORK (MarketWatch) — U.S. stock indexes rose on Tuesday, lifting the S&P 500 index and the Dow Jones Industrial Average to record heights, as Wall Street embraced the start of first-quarter earnings.

“The fundamentals are too good to put a ceiling on the market. During the fourth quarter, companies gave very, very muted outlooks on the first quarter, so earnings might be mildly surprising on the upside,” said Margie Patel, senior portfolio manager at Wells Capital Management.

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Ron Johnson out at J.C. Penney
J.C. Penney fires Ron Johnson as CEO after 17 months at the helm.

After climbing 102.98 points to an all-time intraday high of 14,716.46, the Dow Jones Industrial Average /quotes/zigman/627449 DJIA +0.41% was lately up 92.48 points at 14,705.96, above its all-time finish of 14,662.01, set one week ago

Microsoft Corp. /quotes/zigman/20493/quotes/nls/msft MSFT -0.03% and Intel Corp. /quotes/zigman/20392/quotes/nls/intc INTC +3.27% paced gains that included all but four of the blue-chip index’s 30 members.

Alcoa Inc. /quotes/zigman/246295/quotes/nls/aa AA +0.12% shares drifted between slight gains and losses a day after the aluminum producer reported results that marked the unofficial start of the earnings season. Read more about how Alcoa earnings could boost the market.

After advancing to an intraday record of 1,573.89, the S&P 500 index /quotes/zigman/3870025 SPX +0.35% was more recently at 1,573.23, up 10.16 points and above its 1,570.25 record finish set April 2.

All 10 of the S&P 500 index’s 10 sectors advanced, led by natural-resource and energy, which drew support from Chinese inflation that slowed more than had been expected.

Herbalife Enlarge Image
Herbalife says KPMG has resigned as auditor. Amid allegations of insider trading, KPMG resigned on Tuesday as auditor at Herbalife Ltd. /quotes/zigman/361145/quotes/nls/hlf HLF -3.83% and Skechers USA Inc. /quotes/zigman/204617/quotes/nls/skx SKX +1.86% .

Shares of both companies were halted for a period during the session.

J.C. Penney Co. Inc. /quotes/zigman/237947/quotes/nls/jcp JCP +0.00% plummeted as analysts deemed Myron Ullman’s return to the helm of the struggling retailer as not necessarily a fix for the struggling retailer. See also whether there is value in a buyout of J.C. Penney.

The Nasdaq Composite /quotes/zigman/12633936 COMP +0.48% climbed 25 points to 3,247.39.

For every stock falling two gained on the New York Stock Exchange, where 390 million shares traded as of 3 p.m. Eastern.

Composite volume surpassed 2.3 billion.

The dollar /quotes/zigman/1652083 DXY -0.44% fell against other global currencies, including the yen /quotes/zigman/4868099/sampled USDJPY -0.38% and the euro /quotes/zigman/4867933/sampled EURUSD +0.57% .

Longer-term Treasury prices held steady or fell, with the yield on the benchmark 10-year note /quotes/zigman/4868283/delayed 10_YEAR +0.17% used to determine the rate of mortgages and other consumer loans at 1.749%.

“Investors would love to see higher interest rates; I just don’t see it,” said Wells Capital’s Patel, who adds the relatively muted price of commodities will keep inflation low.

On the New York Mercantile Exchange, the price of oil /quotes/zigman/2291775 CLK3 +0.71% rose 81 cents to $94.18 a barrel, while gold futures for April delivery /quotes/zigman/5106596 GCJ3 +0.80% gained $14.20, or 0.9%, to end at $1,586.20 an ounce.

On Monday, U.S. stocks finished modestly higher as investors again viewed a market dip as a buying opportunity.

/quotes/zigman/627449

Add to portfolio DJIA
Dow Jones Industrial Average
US : DJ-Index
14,673.30
+59.82 +0.41%
Volume: 127.97m
April 9, 2013 4:01p

/quotes/zigman/20493/quotes/nls/msft

Add to portfolio MSFT
Microsoft Corp.
US : U.S.: Nasdaq
$ 29.61
-0.01 -0.03%
Volume: 67.16m
April 9, 2013 4:01p
P/E Ratio
16.15
Dividend Yield
3.10%
Market Cap
$239.48 billion
Rev. per Employee
$774,085

/quotes/zigman/20392/quotes/nls/intc

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Intel Corp.
US : U.S.: Nasdaq
$ 21.75
+0.69 +3.27%
Volume: 52.32m
April 9, 2013 4:00p
P/E Ratio
9.92
Dividend Yield
4.12%
Market Cap
$104.42 billion
Rev. per Employee
$508,010

/quotes/zigman/246295/quotes/nls/aa

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Alcoa Inc.
US : U.S.: NYSE
$ 8.39
+0.01 +0.12%
Volume: 37.06m
April 9, 2013 4:01p
P/E Ratio
44.98
Dividend Yield
1.43%
Market Cap
$8.97 billion
Rev. per Employee
$388,230

/quotes/zigman/3870025

Add to portfolio SPX
S&P 500 Index
US : S&P Base CME
1,568.58
+5.51 +0.35%
Volume: 485.03m
April 9, 2013 4:01p

/quotes/zigman/361145/quotes/nls/hlf

Add to portfolio HLF
Herbalife Ltd.
US : U.S.: NYSE
$ 36.92
-1.47 -3.83%
Volume: 5.52m
April 9, 2013 3:57p
P/E Ratio
8.71
Dividend Yield
3.24%
Market Cap
$3.95 billion
Rev. per Employee
$656,827

/quotes/zigman/204617/quotes/nls/skx

Add to portfolio SKX
Skechers USA Inc. Cl A
US : U.S.: NYSE
$ 21.91
+0.40 +1.86%
Volume: 591,905
April 9, 2013 4:00p
P/E Ratio
116.11
Dividend Yield
N/A
Market Cap
$1.09 billion
Rev. per Employee
$275,383

/quotes/zigman/237947/quotes/nls/jcp

Add to portfolio JCP
J.C. Penney Co. Inc.
US : U.S.: NYSE
$ 13.92
+0.00 +0.00%
Volume: 84.09m
April 9, 2013 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.49 billion
Rev. per Employee
$111,940

/quotes/zigman/12633936

Add to portfolio COMP
NASDAQ Composite Index
US : U.S.: Nasdaq
3,237.86
+15.61 +0.48%
Volume: 0.00
April 9, 2013 4:01p

/quotes/zigman/1652083

Add to portfolio DXY
U.S. Dollar Index (DXY)
US : U.S.: ICE Futures U.S.
82.36
-0.37 -0.44%
Volume: 0.00
April 9, 2013 3:51p

/quotes/zigman/4868099/sampled

Add to portfolio USDJPY
Yen
US : ICAP Currencies
98.9900
-0.3781 -0.3805%
Volume: 0.0000
April 9, 2013 4:01p

/quotes/zigman/4867933/sampled

Add to portfolio EURUSD
Euro
US : ICAP Currencies
1.3083
+0.0075 +0.5744%
Volume: 0.0000
April 9, 2013 4:01p

/quotes/zigman/4868283/delayed

Add to portfolio 10_YEAR
10 Year Treasury Note
US : ICAP Sovereign Debt
1.75
+0.00 +0.17%
Volume: 0.00
April 9, 2013 3:46p

/quotes/zigman/2291775

Add to portfolio CLK3
Crude Oil - Electronic (NYMEX) May 2013
US : U.S.: Nymex
$ 94.02
+0.66 +0.71%
Volume: 207,241
April 9, 2013 3:51p

/quotes/zigman/5106596

Add to portfolio GCJ3
Gold - Electronic (COMEX) Apr 2013
US : U.S.: Comex
$ 1,584.50
+12.50 +0.80%
Volume: 214.00
April 9, 2013 3:45p

Kate Gibson is a reporter for MarketWatch, based in New York

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