Dow Record Bid Falls Short

The 10-year note was down 3/32 in price, yielding 4.60%, and the dollar pared gains against other major world currencies. Gold closed higher by $6.20 to $603.30 an ounce, and silver gained 20 cents to $11.70 an ounce.

About 2.75 billion shares changed hands on the New York Stock Exchange, and advancers beat decliners by a 4-to-3 margin. Volume on the Nasdaq was 2.08 billion shares, with winners topping losers 8 to 7.

After the prior close, Jabil Circuit (JBL Quote) offered an upbeat forecast, saying first-quarter revenue should be $3.1 billion to $3.3 billion, above analysts' consensus estimate. The company also said it expects revenue growth of about 20% for fiscal 2007, suggesting a top line of around $12.36 billion. Jabil rose $1.07, or 3.8%, to finish at $28.96.

The same couldn't be said for Red Hat (RHAT Quote), whose shares tumbled after the Linux software distributor said cash flow and net income dropped sharply in the second quarter and indicated that sales in the third quarter may be slightly below expectations. Red Hat faced three separate downgrades from brokerage firms Wednesday, and its shares plummeted 23.2% to $20.21.

Elsewhere, another Vioxx case has been decided, this one in favor of the painkiller's maker Merck (MRK Quote). A federal jury found that the company wasn't responsible for a Kentucky man's heart attack. The case was the 10th to be decided, and the fifth one that Merck has won. Merck added 64 cents, or 1.5%, to $42.40.

To view Gregg Greenberg's video take on today's market, click here.