Dow, S&P 500, Nasdaq Close at Record Highs

Microsoft soared on a confluence of positive events.
Publish date:


Dow Jones Industrial Average

, the

S&P 500

and the

Nasdaq Composite Index

all closed at record highs, while


(MSFT) - Get Report

enjoyed beefy gains thanks to a confluence of positive events.

Microsoft advanced on an article in the

The Wall Street Journal

that said the company is moving closer to creating a stock to track its

Microsoft Network

properties, optimism ahead of its upcoming earnings report, and on word that a federal jury in Connecticut ruled that Microsoft didn't violate state or federal antitrust laws in a case involving software firm

Bristol Technology

. Microsoft was up 5 1/16, or 5.4%, to 99 7/16, and was most active on the

Nasdaq Stock Market

with 57.2 million shares changing hands.

In new issues,

Paradyne Networks

(PDYN:Nasdaq) soared in its trading debut. Paradyne, which develops broadband and narrowband digital and analog products, was up 39 1/4, or 230.9%, to 56 1/4.

On the

New York Stock Exchange


America Online


was most active, with 15.8 million shares changing hands. It was down 1 to 120.


Rite Aid

(RAD) - Get Report

was third most active on the Big Board with 12.6 million shares changing hands. It advanced on chatter that it might be a takeover target. It was up 1 1/4, or 5.7%, to 23 1/8.

On the NYSE, advancers beat decliners 1,453 to 1,447 on 714.8 million shares. On the Nasdaq, losers beat winners 2,025 to 1,928 on 1.05 billion shares.

On the NYSE, 111 issues set new 52-week highs while 29 touched new lows. On the Nasdaq, 233 issues set new 52-week highs while new lows totaled 31.

Market data above are preliminary. Updated numbers and analysis will follow in the Market Roundup


2:58 p.m.: Microsoft Adds to Its Gains After Verdict in Its Favor

As if


(MSFT) - Get Report

didn't already have enough good news to help juice up its stock today, it got some more this afternoon when word hit that a federal court jury ruled in its favor.

1:58 p.m.: Microsoft Gains Power Nasdaq Into Record Territory

Powered by


(MSFT) - Get Report

, the

Nasdaq Composite Index

was outperforming the rest of the major market averages this afternoon and was in record territory.

1:12 p.m.: Midday Musings: Market Endures a Tough Slog Through an Uncertain Landscape

11:52 a.m.: Stocks Remain Mostly Lower Amid Drop in Internet Sector

Paradyne Networks

(PDYN:Nasdaq) was skyrocketing in its trading debut, while major market averages were mostly lower going into the lunch hour on Wall Street.

11:03 a.m.: Stocks Mostly Lower as Internet Sector Tumbles

Internet stocks were slumping this morning, as most major market barometers were in the red.

9:57 a.m.: Stocks Open Mostly Higher

Most major market averages opened mostly slightly higher, as the

Nasdaq Composite Index


S&P 500

were both trading in record territory after closing at record highs yesterday.