By Bill Brubaker
Washington Post Staff Writer
Tuesday, November 14, 2006; 5:54 PM
U.S. stocks soared to a new record today, propelled by encouraging words from a Federal Reserve official and strong corporate earnings, led by Wal-Mart Stores Inc., the world's largest retailer.
The Dow Jones industrial average, a collection of 30 blue-chip companies that is the nation's oldest stock indicator, gained 86 points to finish at 12,218, an all-time record.
Although Dow stocks were strong all day, they picked up steam at mid-afternoon after William Poole, the president of the Federal Reserve Bank of St. Louis, suggested higher interest rates may not be in the offing, at least in the near term. |
