The S&P 500 just continues chugging along, hitting a new three-year closing high today after ending the trading day 0.14% higher.
But like the sad-sap salesmen in Glengarry Glen Ross, the Dow just can’t close.� The index rose solidly above 13,000 after the government released strong home sales data this morning, but ended the day 0.01% lower at 12,981.5. Financial stocks rose 0.9% on the day, but energy stocks were weak, and lingering doubts about Europe continued to weigh on U.S. stocks.
It’s the third time in the past five days that the index has taken a shot at 13,000 only to run out of gas at the end of the day.
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